UPDATE: Baird Upgrades Arrowhead Research (ARWR) to Outperform
(Updated - November 25, 2019 8:15 AM EST)
(update comment)
Baird analyst Madhu Kumar upgraded Arrowhead Research (NASDAQ: ARWR) from Neutral to Outperform with a price target of $70.00.
The analyst comments "Sunday afternoon, the Medicines Company (MDCO) announced a definitive agreement for its acquisition by Novartis (NVS, not covered). In light of MDCO's potential takeout by NVS, we are forced to re-evaluate Arrowhead Pharmaceuticals' (ARWR) RNAi platform, heavily levered to lipid-modifying RNAi drugs for cardiovascular disease (CVD)."
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Shares of Arrowhead Research closed at $49.20 yesterday.