Market Overview

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

Related ARWR
Mid-Afternoon Market Update: Crude Oil Drops 5%; Alpha and Omega Semi Shares Gain On Earnings Beat
20 Biggest Mid-Day Gainers For Thursday

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.

Latest Ratings for ARWR

Nov 2016JefferiesMaintainsHold
Nov 2016William BlairDowngradesOutperformMarket Perform
Nov 2016PiperJaffrayDowngradesOverweightNeutral

View More Analyst Ratings for ARWR
View the Latest Analyst Ratings

Posted-In: Analyst Color News Reiteration Analyst Ratings


Related Articles (ARWR)

View Comments and Join the Discussion!