Jan. 13 at 1:18 PM
Piper Sandler⬆️
$ARWR's PT to
$110 and reit'd at Overweight
$IONS $WVE $RHHBY $REGN TEVA
Piper Sandler said in its note:
Arrowhead launched Redemplo for familial chylomicronemia syndrome (FCS), and we conservatively forecast sales of
$8.4 million in FY:26 to grow to
$41.6 million in FY:27.
We are confident Arrowhead will report positive Phase III Redemplo data in severe hypertriglyceridemia in 3Q:26 with potential blockbuster label expansion in CY:27.
Arrowhead reported impressive weight and fat loss data from the ongoing Phase I/II studies of ARO-INHBE and ARO-ALK7 with more data this year.
Arrowhead initiated Phase I/ lla studies of ARO-DIMER-PA for ASCVD and ARO-MAPT for early Alzheimer's disease patients, both with initial data in 2026.
Arrowhead issued
$700 million in zero coupon
convertible debt and raised
$230 million in equity bringing pro forma cash to ~
$2.09 billion and debt to ~
$955 million.
We reiterate our Overweight rating and are increasing our price target to
$110 from
$100.
