Morgan Stanley upgraded Arrowhead (ARWR) to Overweight from Equal Weight with a price target of $100, up from $78. The firm sees the stock’s momentum continuing ahead of Phase 3 severe hypertriglyceridemia data in Q3. Morgan Stanley expects positive data to “unlock a multibillion-dollar opportunity that remains underappreciated” at current share levels, the analyst tells investors in a research note. It also sees pipeline optionality and a favorable outlook for Arrowhead.
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