H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Arrowhead Pharmaceuticals (ARWR – Research Report) today and set a price target of $80.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight the promising future of Arrowhead Pharmaceuticals. The company is on the brink of its first potential drug approval with plozasiran, which targets apolipoprotein C-III in the liver and has a PDUFA date set for November. The confidence in the approval stems from compelling Phase 3 trial data and the absence of an advisory committee, suggesting a smooth regulatory pathway.
Furthermore, Arrowhead is expanding its pipeline with several programs, including ongoing trials for plozasiran in other conditions such as severe hypertriglyceridemia and plans for a new Phase 3 trial for zodasiran. The potential for plozasiran to become a best-in-class treatment, along with the expectation of regulatory filings in additional markets, adds to the bullish outlook. The company’s efforts in diversifying their treatment portfolio, including programs in obesity, pulmonary, and CNS conditions, further substantiate the Buy rating as Arrowhead continues to advance its strategic initiatives.
Trucchio covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Sangamo Biosciences, and Silence Therapeutics. According to TipRanks, Trucchio has an average return of 0.1% and a 34.43% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $42.00 price target.