Arrowhead Pharma (ARWR) PT Raised to $80 at Cantor Fitzgerald Ahead of a Catalyst Rich 2021

Cantor Fitzgerald analyst Elemer Piros raised the price target on Arrowhead Pharma (NASDAQ: ARWR) to $80.00 (from $58.00) after an uneventful earnings call and ahead of several notable 2021 events. On the call, management confirmed it continues to make progress in its pipeline and has had several clinical updates at AASLD (updated data on 4 patients in AAT) and AHA (ARO-APOC3 and ARO-ANG3).

The analyst maintained a Overweight rating, stating "We think the company will have several notable 2021 events including progression into more late stage clinical trials, and we also think 2021 is the year that we could see if the platform can achieve proof of concept outside of the liver. The company is initiating three trials for ARO-APOC3 (Ph3 for FCS, Ph2 for sHTG, and Ph2 for HTG) in 1H21. A Ph2b trial of ARO-ANG3 in triglyceridemic patients not meeting LDL-c goal is set to start in 1H21. We believe the company should have updated data from the ARO-ENaC program in 1H21 or 3Q21 in CF (guiding to a 5-15% change in FEV1 from baseline)."

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