Arrowhead price target raised to $85 from $50 at Goldman Sachs

Goldman Sachs analyst Andrea Newkirk raised the firm’s price target on Arrowhead (ARWR) to $85 from $50 and keeps a Neutral rating on the shares. Arrowhead released early clinical data from its RNAi obesity therapies, ARO-INHBE and ARO-ALK7, with ARO-INHBE combined with Eli Lilly’s (LLY) tirzepatide showing superior weight loss and body composition improvements versus monotherapy, supporting a multi-modality approach for patients less responsive to GLP-1 treatments, while ARO-ALK7 provided first evidence of successfully targeting an adipocyte-expressed gene with potential implications for other cardiometabolic targets, the analyst tells investors in a research note.