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Investing.com - H.C. Wainwright has reiterated its Buy rating and $80.00 price target on Arrowhead Pharmaceuticals (NASDAQ:ARWR), representing significant upside from the current price of $36.54, ahead of the November 18 Prescription Drug User Fee Act (PDUFA) action date for its drug plozasiran. According to InvestingPro data, the stock has delivered a remarkable 102.77% return over the past year.
The firm’s decision follows discussions with Arrowhead management and key opinion leaders regarding the company’s readiness for the potential approval of plozasiran in familial chylomicronemia syndrome (FCS).
Arrowhead management reported that launch preparations are on track and commercial infrastructure is nearly complete, with the company focusing on sales force hiring, payer engagement, patient identification initiatives, and global planning.
Medical experts consulted by H.C. Wainwright emphasized the significant unmet need in FCS and highlighted plozasiran’s differentiation as an APOC3 inhibitor, describing the treatment as "mechanistically rational" and "clinically transformative" with the added benefit of quarterly dosing.
The upcoming PDUFA date represents a significant milestone for Arrowhead as plozasiran would be the company’s first commercial product and could establish a foundation for future cardiometabolic drug launches.
In other recent news, Arrowhead Pharmaceuticals has made significant strides with several new developments. The company has filed for regulatory clearance to initiate Phase 1/2a clinical trials for two investigational RNA interference therapeutics: ARO-DIMER-PA, targeting atherosclerotic cardiovascular disease, and ARO-MAPT, aimed at treating tauopathies, including Alzheimer’s disease. The trials for ARO-MAPT are set to take place in New Zealand and will involve both healthy subjects and individuals with early Alzheimer’s disease.
In a major business move, Arrowhead has entered into a global licensing and collaboration agreement with Novartis, focusing on its preclinical stage siRNA therapy for Parkinson’s Disease and other neurological conditions. This deal includes a $200 million upfront payment, with potential milestone payments up to $2 billion, plus royalties on future commercial sales. On the financial analysis front, H.C. Wainwright has reaffirmed its Buy rating for Arrowhead Pharmaceuticals, maintaining a price target of $80.00.
Additionally, Sarepta Therapeutics recently sold over 9.2 million shares of Arrowhead in a privately negotiated block trade, resulting in at least $174 million in gross proceeds for Sarepta . Despite these varied developments, Arrowhead continues to advance its pipeline and strategic partnerships.
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