Patrick Trucchio, an analyst from H.C. Wainwright, reiterated the Buy rating on Arrowhead Pharmaceuticals. The associated price target remains the same with $80.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight Arrowhead Pharmaceuticals’ strategic advancements and promising pipeline. The company’s focus on both late and early-stage developments, particularly in cardiometabolic diseases, obesity, RNA dimers, and CNS delivery, positions it well for near-term and long-term growth. The recent discussions at the HCW’s 27th Annual Global Investment Conference emphasized the significance of plozasiran as a key component of their cardiometabolic franchise, with several upcoming regulatory and clinical milestones.
Arrowhead’s progress with plozasiran, especially with the upcoming PDUFA action date for familial chylomicronemia syndrome, and the fully enrolled Phase 3 studies in severe hypertriglyceridemia, are pivotal. The company’s strategy to reduce pancreatitis risk through APOC3 inhibition and the differentiation of plozasiran with quarterly dosing are notable competitive advantages. Additionally, the broader pipeline, including advancements in zodasiran for HoFH, potential obesity treatments, and the CNS platform, further supports the Buy rating with multiple anticipated milestones over the next year.
According to TipRanks, Trucchio is a 5-star analyst with an average return of 13.6% and a 47.23% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as GH Research, Arrowhead Pharmaceuticals, and COMPASS Pathways.
In another report released on September 10, Bank of America Securities also reiterated a Buy rating on the stock with a $42.00 price target.