Piper Sandler raised the firm’s price target on Arrowhead to $62 from $59 and keeps an Overweight rating on the shares. The firm notes Arrowhead issued 15.79M shares at $28.50 raising gross proceeds of $450M, bringing pro forma cash to $854M. Piper wants to own Arrowhead’s shares ahead of Phase III PALISADE data on plozasiran in FCS in mid-2024 and the company’s first NDA filing by year-end 2024.
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