** Arrowhead Pharmaceuticals' shares rise 6.4% to $22.39, while Sarepta falls ~1% to $129.40 before the bell
** ** On Tuesday, ARWR and SRPT announced agreement to collaborate on clinical and preclinical programs; ARWR will get $500 mln upfront and $325 mln equity investment from SRPT
** Jefferies and Leerink Partners raise their PTs on ARWR, say that the licensing deal with SRPT resolves cash issues for Arrowhead and allows it to focus on developing cardiometabolic therapies
** Jefferies says deal extends ARWR's cash runway into 2028, giving it sufficient resources for launching plozasiran, which treats a rare metabolic disorder; raises PT by $2 to $67
** Leerink raises PT to $23 from $20 to reflect easing balance sheet concerns, says investors will closely watch ARWR's development milestones
** Ten of 15 brokerages rate the stock "buy" or higher, 5 rate it "hold"; their median PT is $45.50
** As of last close, ARWR down ~31.2% and SRPT up 35% YTD
(Reporting by Bhanvi Satija in Bengaluru)
((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91 9873062788;))
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