Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Arrowhead (ARWR) to $52 from $55 but keeps an Overweight rating on the shares after its Q1 earnings this evening. The analyst is removing the value of Janssen’s (JNJ) JNJ-3989/ARO-HBV royalties from the firm’s model, which reduces its projected enterprise value to $5.57B from $5.83B.
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