Arrowhead Research (ARWR) PT Lowered to $5 at Jefferies Following Clinical Hold
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Jefferies analyst Eun Yang reiterated a Hold rating and cut his price target on Arrowhead Research (NASDAQ: ARWR) to $5.00 (from $6.50) following clinical hold.
Yang commented, "FDA's decision to place a clinical hold on Heparc-2004 trial of ARC-520 based on death in non-human primate study came as a surprise. While ARWR does not expect the hold to delay progress of any of its programs, until proven it's safe, we take a cautious view, adjusting PT to $5 from $6.50."
Shares of Arrowhead Research closed at $4.20 yesterday.
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