Arrowhead price target raised to $70 from $45 at Piper Sandler

Piper Sandler analyst Edward Tenthoff raised the firm’s price target on Arrowhead (ARWR) to $70 from $45 and keeps an Overweight rating on the shares. The firm notes the FDA approved Arrowhead’s first-ever TRiM medicine Redemplo as an adjunct to diet to reduce triglycerides in adults with Familial Chylomicronemia Syndrome. While Tryngolza has a head start and is off to a solid launch, Piper believes that Redemplo will compete well in FCS based on deeper placebo-adjusted TG reductions, less frequent quarterly injections and lower WAC of $60,000 vs. $595,000. The firm forecasts U.S. Redemplo FCS sales of at least $625,000 in Q4 2025, $12.3M in 2026 growing to $172M by 2031. Further, Piper is confident Arrowhead will report positive Phase III SHASTA-3, SHASTA-4 and MUIR-3 trials on Redemplo in severe hypertriglyceridemia in Q3 2026, with the potential for blockbuster label expansion in 2027.