Bernstein lowered the firm’s price target on Arrowhead (ARWR) to $24 from $27 and keeps a Market Perform rating on the shares. The company’s fiscal Q4 update centered primarily on the large collaboration deal announced with Sarepta (SRPT) (SPRT) and implications for its own strategy going forward, the analyst tells investors in a research note. The firm takes a “very positive view” on the deal, both for its transformational impact on Arrowhead’s cash position and the greater focus it will bring to the wholly-owned pipeline. The one downside about the deal is that” it dries up the catalyst path somewhat and may lead to ARWR being put in the funding short bucket,” contends Bernstein.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ARWR:
- Arrowhead Pharmaceuticals Faces Distribution Risks with Vanscoy Reliance
- Dell and HP forecasts spark selloffs: Morning Buzz
- Sarepta price target lowered to $202 from $205 at Needham
- Arrowhead price target lowered to $45 from $62 at Piper Sandler
- Sarepta price target lowered to $182 from $200 at Piper Sandler
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
