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’ promising prospects. The recent collaboration with Novartis is a significant endorsement of Arrowhead’s CNS platform, providing substantial non-dilutive capital and validating their systemic CNS delivery approach. This partnership includes a $200 million upfront payment and potential milestones up to $2 billion, which underscores the confidence in Arrowhead’s innovative pipeline.
Additionally, the positive read-through from Ionis Pharmaceuticals’ data on olezarsen strengthens the case for Arrowhead’s plozasiran in treating severe hypertriglyceridemia. The results from Ionis enhance the narrative for reducing pancreatitis risk, which could lead to a robust market opportunity for triglyceride-lowering therapies. Arrowhead’s differentiation with quarterly dosing and the potential for significant revenues from plozasiran further support the optimistic outlook. These strategic developments and the strong market potential contribute to the reiterated Buy rating and the $80 price target for Arrowhead’s stock.