Arrowhead: Early Redemplo Launch Momentum and De-Risked sHTG Pivotal Program Underpin Attractive Buy Thesis

TD Cowen analyst Joseph Thome has maintained their bullish stance on ARWR stock, giving a Buy rating yesterday.

Joseph Thome has given his Buy rating due to a combination of factors tied to Arrowhead’s emerging commercial execution and late-stage pipeline visibility. He notes that the initial launch of Redemplo (plozasiran) for familial chylomicronemia syndrome is off to a promising start, with more than 100 prescriptions in just 10 weeks and meaningful uptake among patients who have not previously used APOC3-directed therapies. Management is portrayed as upbeat about early trends in physician adoption, payer engagement, reimbursement progress, and product shipments, even though it is too early for the company to disclose revenue figures. Thome also emphasizes that recent capital-raising activities have materially strengthened the balance sheet, positioning Arrowhead to navigate an active 2026 filled with both commercial execution and clinical milestones.
Looking ahead, Thome sees the pivotal program in severe hypertriglyceridemia (sHTG) as the key value driver, with fully enrolled studies and topline data expected in the third quarter of 2026. He highlights management’s confidence that these trials will achieve the primary regulatory endpoint of triglyceride reduction versus placebo, supported by the drug’s strong lipid-lowering performance in prior studies and the fact that the trials are statistically overpowered for this measure. While he acknowledges that the studies are not specifically powered to show a reduction in acute pancreatitis, he points out that a sizable proportion of enrolled patients are at high risk for such events, allowing for clinically relevant signals to emerge. Based on this combination of early commercial traction, de-risked pivotal design, and a meaningful addressable market in both FCS and sHTG, Thome models roughly $2 billion in annual sales by 2035 and considers the current valuation attractive, supporting his Buy recommendation.

Thome covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Mirum Pharmaceuticals, and Ardelyx. According to TipRanks, Thome has an average return of 19.2% and a 57.55% success rate on recommended stocks.

In another report released yesterday, TipRanks – PerPlexity also reiterated a Buy rating on the stock with a $83.00 price target.