Arrowhead price target raised to $24 from $20 at Jefferies

Jefferies analyst Maury Raycroft raised his price target for Arrowhead Pharmaceuticals to $24 after the company last week reported initial ARO-HBV data at the World Gastroenterologists Summit. The update was unexpected and an early glimpse into what should be a more mature, robust dataset at the American Association for the Study of Liver Diseases meeting, Raycroft tells investors in a research note. He sees the de-risking as a positive and keeps a Buy rating on Arrowhead.
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