UPDATE: Baird Upgrades Arrowhead Research (ARWR) to Outperform

(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)."

For an analyst ratings summary and ratings history on Arrowhead Research click here. For more ratings news on Arrowhead Research click here.

Shares of Arrowhead Research closed at $49.20 yesterday.

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