Arrowhead price target raised to $32 from $27 at Bernstein

Bernstein analyst William Pickering raised the firm’s price target on Arrowhead to $32 from $27 and keeps a Market Perform rating on the shares. The firm notes that there is a lot happening – CV phase 3 starts, pulmonary data in multiple indications, and new trials kicking off in muscle and adipose, to name a few. But it doesn’t expect most of these to actually move the stock – asthma PFT data is the one Bernstein feels best about, but even good data won’t refute concern that the space is too crowded, the firm says.