Dec. 17 at 4:46 PM
Piper Sandler Named
$ARWR a 2026 Top Pick/⬆️PT to
$100/reit'd @ OW
$IONS $WVE $RHHBY REGN
$TEVA
Piper Sandler said in its note to investors:
Naming ARWR a Top Pick for 2026 for Redemplo Launch and SHTG Data
Arrowhead has launched Redemplo in Familial Chylomicronemia Syndrome. We forecast U.S. FCS sales of at least
$625,000 in 4Q:25 and
$12.3 million in 2026, which could prove conservative based on Redemplo's superior potency, less frequent quarterly dosing and lower annual price of
$60,000 vs. IONIS' (IONS, Bratzel) Tryngolza.
We are confident Arrowhead will report positive Phase III Redemplo data in SHTG in 3Q:26 with potential blockbuster label expansion in 2027.
Arrowhead expects to report initial ARO-INHBE data in January, ARO-ALK7 and ARO-DIMER-PA in mid'26 and potentially ARO-MAPT data in 2026. Arrowhead holds pro forma cash of ~
$1.18 billion to fund operations into 2028. We reiterate our Overweight rating and are increasing our target to
$100 from
$70 by adding pipeline value.