Goldman Sachs lowered the firm’s price target on Arrowhead to $28 from $31 and keeps a Neutral rating on the shares. The company reported Q3 EPS where portfolio updates were incremental, but progress toward strengthening the balance sheet was made per a strategic financing deal aimed at bridging the gap to meaningful commercial revenues and with an attractive structure, the analyst tells investors in a research note. The firm adds however that while the transaction begins to address the financing overhang, in the near term, there is also focus on portfolio execution per an NDA filing for plozasiran in FCS by year-end 2024.
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