- SVB Securities upgraded Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) to Outperform from Market Perform on attractive risk-reward following shares’ underperformance relative to larger cap oligo therapy peers.
- SVB Securities raised the price target to $35 from $21, implying a 33% upside from Tuesday’s close.
- Also Read: JNJ Terminates NASH Program Pact With Arrowhead Pharmaceuticals.
- The analyst notes that Arrowhead stock lost around 35% YTD, underperforming the peers such as Alnylam Pharmaceuticals, Inc (NASDAQ:ALNY), Ionis Pharmaceuticals Inc (NASDAQ:IONS), and Moderna Inc (NASDAQ:MRNA).
- “This leaves ARWR trading at ~$2.8B market cap, a discount to the $3.3B at which Dicerna was acquired by Novo Nordisk,” (NYSE:NVO), the analyst writes, referring to the most recent benchmark for upside M&A optionality in this subsector.
- SVB analyst says the appetizing risk/reward profile sets as the company heads into upcoming data catalysts for the pulmonary portfolio and upside optionality from potential out-licensing/partnership of pipeline assets.
- Price Action: ARWR shares are up 10.22% at $28.91 on the last check Wednesday.
Ensysce Biosciences Receives Positive Nasdaq Listing Determination; Subject To The Co’s Compliance With All Applicable Criteria For Continued Listing Including The $1 Bid Price And $2.5 Million Stockholders’ Equity By June 12, 2023
Ensysce Biosciences, Inc. (the "Company") (NASDAQ:ENSC), a clinical-stage biotech company applying transformative chemistry to improve prescription drug safety to reduce abuse and overdose, today announced that
