Stock bounces back after reaching a low

  • Arrowhead Pharmaceuticals shares rise 6.3% on BofA buy rating
  • Stock bounces back after reaching over three-year low
  • Shares down 39% this year
  • BofA analysts see potential for up to $2 billion in peak revenue for plozasiran
  • Initiate coverage with a buy rating and $29 price target

Shares of Arrowhead Pharmaceuticals rose 6.3% on Monday after receiving a new buy rating from Bank of America Securities analysts. The stock bounced back from an over three-year low reached on Friday. Despite being down 39% this year, BofA analysts believe the company has a solid mix of clinical programs and is currently trading at an attractive entry point. They see potential for up to $2 billion in peak revenue for plozasiran, a therapeutic being tested for treating cardiovascular disease. The analysts have initiated coverage of the company with a buy rating and a price target of $29.

Public Companies: Arrowhead Pharmaceuticals (N/A)
Private Companies:
Key People: Ben Glickman (Analyst)

Factuality Level: 8
Justification: The article provides factual information about Arrowhead Pharmaceuticals gaining a new bull in Bank of America Securities analysts, the stock price increase, and the analysts’ research note. The information about the company’s clinical programs and the potential revenue from plozasiran is presented as the analysts’ opinion rather than a universally accepted truth. Overall, the article is based on factual information with minimal bias or opinion.

Noise Level: 3
Justification: The article provides relevant information about Arrowhead Pharmaceuticals gaining a new bull in Bank of America Securities analysts and the reasons behind the rise in stock price. However, it lacks in-depth analysis, scientific rigor, and evidence to support the claims made by the analysts. The article also does not provide any actionable insights or solutions for the readers.

Financial Relevance: Yes
Financial Markets Impacted: Shares of Arrowhead Pharmaceuticals

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the rise in shares of Arrowhead Pharmaceuticals due to a new bull rating from Bank of America Securities analysts. There is no mention of any extreme event or its impact.

Reported publicly: www.marketwatch.com