Arrowhead Pharmaceuticals Stock Jumps 22% After Morgan Stanley Hikes Price Target

According to TheFly, the analyst noted that Redemplo's approval in familial chylomicronemia syndrome last week "importantly sets the stage for meaningful label expansion into SHTG (severe hypertriglyceridemia)."

Morgan Stanley on Wednesday raised its price target on Arrowhead Pharmaceuticals (ARWR) to $48 from $45 while keeping an ‘Equal Weight’ rating on the shares.

Shares of the company traded 22% higher at the time of writing on Wednesday morning. 

According to TheFly, the analyst noted that Redemplo's approval in familial chylomicronemia syndrome last week "importantly sets the stage for meaningful label expansion into SHTG (severe hypertriglyceridemia)."

Redemplo is Arrowhead’s first FDA-approved medicine. Its approval marked a milestone as Arrowhead evolves into a commercial-stage pharmaceutical company. 

Get updates to this developing story directly on Stocktwits.<