Market Overview

Deutsche Bank Defends Arrowhead Amid ~16% Decline, Reiterates Buy

Related ARWR
Arrowhead Research Up Over 6% Following CNBC Comments
4 Biotech Stocks With Big Money Coming In

Shares of Arrowhead Research (NASDAQ: ARWR) were clobbered Monday as investors were disappointed with details of the company's dosing commencement in the Phase 2a trial of ARC-520. Shares plunged more than 16 percent to close at $17.37.

Deutsche Bank analyst Alethia Young had some reassuring comments for Arrowhead investors in a mid-day research note.

She attributed the downside in Arrowhead to "weakness in overall biotech sentiment" and suggested the company "remains the leader on timelines." She sees Arrowhead as "about a year ahead" for the company's HBV study.

Young set a fair value estimate for Arrowhead shares within $35 to $45 amid the Phase 2a data.

The Deutsche Bank analyst reiterated a Buy rating and $45 price target on shares of Arrowhead Research.

Posted-In: Analyst Color News Reiteration Analyst Ratings

 

Most Popular

Related Articles (ARWR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free