Arrowhead price target lowered to $60 from $82 at Chardan

Chardan analyst Keay Nakae lowered the firm’s price target on Arrowhead to $60 from $82 and keeps a Buy rating on the shares. The company presented topline data from the SEQUOIA phase II study evaluating fazirsiran, showing generally consistent results with the previously published open label study, Nakae tells investors in a research note. While the study showed substantial reductions of serum and liver mutant alpha-1 antitrypsin protein levels in fazirsiran-treated patients compared to placebo, a much more modest improvement was observed in the number of patients showing greater than one point improvement in METAVIR fibrosis with fazirsiran compared to placebo, says the analyst.