Michael Ulz, an analyst from Morgan Stanley, maintained the Hold rating on Arrowhead Pharmaceuticals. The associated price target remains the same with $29.00.
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Michael Ulz has given his Hold rating due to a combination of factors that reflect both the potential and the uncertainties surrounding Arrowhead Pharmaceuticals. The company is making significant strides in preparing for the commercial launch of plozasiran for familial chylomicronemia syndrome (FCS) in the United States, with a PDUFA date set for November 18, 2025. Arrowhead has effectively built out its commercial sales organization and established connections with payers covering a substantial portion of the market, indicating a strong foundation for the upcoming launch. Additionally, the company is advancing its filings for plozasiran in Europe, Australia, and Canada, and has secured a partnership with Sanofi for distribution in greater China.
Despite these positive developments, Michael Ulz’s rating also considers the inherent risks and uncertainties in Arrowhead’s pipeline. The ongoing Phase 3 trials for severe hypertriglyceridemia (SHTG) are progressing, but their completion and subsequent regulatory filings are not expected until mid-2026 and late 2026, respectively. While the company has a solid cash position with $900 million on hand, ensuring financial stability through fiscal 2028, the outcomes of these trials and the realization of expected milestone payments from SRPT remain critical factors. These elements contribute to a cautious outlook, justifying the Hold rating at this time.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $16.50 price target.