Arrowhead price target lowered to $64 from $72 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Arrowhead to $64 from $72 and keeps an Overweight rating on the shares. Arrowhead presented interim Phase II data from the SHASTA-2 study of ARO-APOC3 and the Phase II ARCHES-2 study of ARO-ANG3, and hosted an event discussing these data and future development plans, Tenthoff tells investors in a research note. The analyst pushed out approval of several CV therapies and rolled forward his discount period to 2023.