Citi Reiterates Neutral Rating on Arrowhead Pharma (ARWR)

Citi analyst David Lebowitz reiterated a Neutral rating and $29.00 price target on Arrowhead Pharma (NASDAQ: ARWR)

The analyst comments "Plozasiran succeeded in Ph3 PALISADE trial in familial chylomicronemia syndrome (FCS), showing up to 80% triglyceride (TG) lowering at Month-10 at 25 and 50mg quarterly doses, respectively, along with a clean profile. Plozasiran also showed significant benefit on secondary endpoints, including lowering of fasting TG and APOC3 at Month-10 and -12, and importantly, acute pancreatitis events. Arrowhead will review plozasiran data at its Cardiometabolic R&D event (6/25/24) and share full PALISADE results at a medical meeting. Given that mean placebo-adjusted TG benefit in PALISADE remains unknown, benchmarking against olezarsen’s pivotal BALANCE is difficult (43.5% placebo-adjusted TG reduction). Additionally, BALANCE enrolled harder-to-improve genotypic FCS population, whereas PALISADE included both genotypic and less severe phenotypic FCS patients, making cross-trial comparisons complicated. Overall, plozasiran appears approvable for FCS, but details on TG benefit and acute pancreatitis reduction in genetic FCS and potential glycemic signals (if any) will help assess competitive positioning."

For an analyst ratings summary and ratings history on Arrowhead Pharma click here. For more ratings news on Arrowhead Pharma click here.

Shares of Arrowhead Pharma closed at $22.95 yesterday.

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