Morgan Stanley analyst Michael Ulz maintained a Hold rating on Arrowhead Pharmaceuticals (ARWR – Research Report) yesterday and set a price target of $29.00.
Michael Ulz has given his Hold rating due to a combination of factors related to Arrowhead Pharmaceuticals’ recent data on their ARO-C3 treatment for IgA nephropathy. The Phase 1/2 study results show promising reductions in complement factor 3 (C3) and proteinuria, which are competitive with existing treatments. However, the proteinuria reduction, while favorable compared to some competitors, is not significantly superior to next-generation assets.
Additionally, the pharmacokinetic data suggest a potentially competitive profile with the possibility of less frequent dosing, which could be advantageous in later-stage studies. The safety profile also appears clean, with no severe or serious treatment-related adverse events reported. Despite these positive aspects, the data’s current stage and the need for further detailed results, expected to be presented at a medical conference in 2025, contribute to the Hold rating as the full competitive potential of ARO-C3 remains to be fully established.
Ulz covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Sarepta Therapeutics, and Viking Therapeutics. According to TipRanks, Ulz has an average return of -5.7% and a 34.17% success rate on recommended stocks.
In another report released yesterday, Goldman Sachs also reiterated a Hold rating on the stock with a $26.00 price target.
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