Analyst Upgrades Arrowhead Pharma Citing 'Attractive Risk/Reward'

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  • SVB Securities upgraded Arrowhead Pharmaceuticals Inc ARWR to Outperform from Market Perform on attractive risk-reward following shares' underperformance relative to larger cap oligo therapy peers.
  • SVB Securities raised the price target to $35 from $21, implying a 33% upside from Tuesday's close.
  • Also Read: JNJ Terminates NASH Program Pact With Arrowhead Pharmaceuticals.
  • The analyst notes that Arrowhead stock lost around 35% YTD, underperforming the peers such as Alnylam Pharmaceuticals, Inc ALNYIonis Pharmaceuticals Inc IONS, and Moderna Inc MRNA.
  • "This leaves ARWR trading at ~$2.8B market cap, a discount to the $3.3B at which Dicerna was acquired by Novo Nordisk," NVO, the analyst writes, referring to the most recent benchmark for upside M&A optionality in this subsector.
  • SVB analyst says the appetizing risk/reward profile sets as the company heads into upcoming data catalysts for the pulmonary portfolio and upside optionality from potential out-licensing/partnership of pipeline assets.
  • Price Action: ARWR shares are up 10.22% at $28.91 on the last check Wednesday.
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