-=Arrowhead Pharmaceuticals (ARWR) : upbeat trial data prompts analyst upgrade

Upbeat results of the company's treatment for chronic hepatitis B prompted an upgrade at B. Riley FBR. The company said clinical data for ARO-HBV demonstrated that three monthly doses led to a "maximum reduction" in circulating HBV surface antigen. Analyst Madhu Kumar at B. Riley FBR followed by raising the rating to buy from neutral, and lifting the stock price target to $19. "While early, we believe these findings provide clinical proof of concept for ARWR's current HBV RNAi franchise, through multi-log suppression of hepatitis B surface antigen (HBsAg)," Kumar wrote in a note to clients.