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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ARWR:
- Arrowhead 15.8M share Secondary priced at $28.50
- The Smid-cap biotech stocks to own in 2024, according to Bernstein
- Arrowhead price target raised to $37 from $29 at BofA
- Arrowhead price target raised to $32 from $27 at Bernstein
- Arrowhead applies for clearance to begin Phase 1/2a trial of RNAi therapeutic