Arrowhead initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Arrowhead (ARWR) with an Overweight rating and $88 price target The company has a a “highly diversified” RNAi portfolio targeting a spectrum of diseases and is strategically backed by multiple partnerships, the analyst tells investors in a research note. The firm says Arrowhead’s Redemplo launch in familial chylomicronemia syndrome is a “stepping stone to bigger things.”