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Fly News Breaks for August 6, 2019
Aug 6, 2019 | 05:11 EDT
Piper Jaffray analyst Edward Tenthoff raised his price target for Arrowhead Pharmaceuticals to $50 from $33 and reiterates an Overweight rating on the shares following the company's fiscal Q3 results. Arrowhead ended the quarter with cash of $295M and could soon receive a $25M milestone from Janssen for initiating Phase II REEF-1 study of JNJ-3989, Tenthoff tells investors in a research note. The analyst sees the cash position advancing Arrowhead's wholly-owned TRiM pipeline.