Arrowhead Pharma Heads Down Midday After Downgrade By –

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© Reuters. – Arrowhead Pharmaceuticals took a tumble midday Friday following a research downgrade that argued the stock is now fairly valued.

Arrowhead (NASDAQ:) shares sank about 6%.

Cantor Fitzgerald cut the stock to neutral from overweight, leaving its price target at $24.

It’s time for shares to take a breather after a two-rally that’s seen the stock rocket about 1,700% higher, Cantor Fitzgerald argued.

Last month the stock was added to the .

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