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Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) shares were trading higher by 6% to $27.54 during Monday’s session after the company announced that it presented preclinical data on ARO-INHBE at the American Diabetes Association 84th Scientific Sessions.
The data showed ARO-INHBE significantly silenced the INHBE gene in the liver, potentially leading to reduced body weight gain, fat mass loss and preservation of lean mass. Arrowhead plans to seek regulatory clearance in late 2024 to begin clinical trials.
In obese and diabetic mice, INHBE siRNA reduced INHBE mRNA expression by 95%, body weight by 19% and fat mass by 26%, while preserving lean mass. Additionally, combining tirzepatide with INHBE siRNA allowed for lower tirzepatide doses without losing efficacy.
Arrowhead said the company would further discuss its cardiometabolic pipeline and preclinical programs, including ARO-INHBE, in upcoming webinars on June 25 and August 15.
See Also: ‘Stock Market Has A Bad Breadth Problem Again,’ Veteran Wall Street Investor Warns
Wall Street analysts view Arrowhead Pharma as a Buy, given the history of coverage over the past three months. Michael Ulz from Morgan Stanley in Arrowhead Pharma was the most bearish, expecting a 25.0% fall in the stock in the coming year.
But looking at how the market as a whole thought of the stock, you could reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Arrowhead Pharma fell 2.04%, which indicated opinion soured on the business and how attractive it was to own based on either its stock price or underlying fundamentals, like revenue, which fell 100.0% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real-time updates on the latest analyst actions can be delivered via Benzinga PRO. Try it for free.
ARWR Price Action: Arrowhead Pharmaceuticals has a 52-week high of $39.83 and a 52-week low of $20.67. It ended Monday’s trading up 6.82% at $27.24
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