Arrowhead price target raised to $52 from $45 at RBC Capital

RBC Capital analyst Luca Issi raised the firm’s price target on Arrowhead (ARWR) to $52 from $45 and keeps an Outperform rating on the shares. The FDA approved plozasiran, Redemplo, for familial chylomicronemia syndrome, which is a key milestone for the organization as it marks the very first FDA approved drug for the company, the analyst tells investors in a research note. While approval was largely anticipated, RBC is positive on Arrowhead’s solid execution and its ability to successfully transition to a commercial organization, the firm added.