Arrowhead price target raised to $48 from $27 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Arrowhead (ARWR) to $48 from $27 but keeps a Neutral rating on the shares. The firm is citing the announced FDA approval of Redemplo, formerly plozasiran, as an adjunct to diet to reduce triglycerides in adults with familial chylomicronemia syndrome, in what it calls a “best case” label scenario, the analyst tells investors in a research note. Goldman adds however that Redemplo’s pricing could serve Arrowhead favorably in the near-term during the FCS launch, as both Ionis (IONS) and Arrowhead transition to the sHTG launch, the dynamic may become more nuanced.