Stifel reiterated its buy recommendation for Arrowhead Pharmaceuticals on Monday, maintaining a price target of $104 per share. The firm’s outlook follows the release of detailed results from the SHASTA Phase III study, which analysts described as supportive of a best-in-class profile for the company’s triglyceride-lowering therapies.
Arrowhead’s shares were trading at $82.11 at the time of the report, representing a 285% increase over the past year. The company’s market capitalization stood at $11.6 billion. Stifel’s price target implies a potential upside of approximately 27% from current levels.
The SHASTA study evaluated plozasiran and olezarsen, two candidates in Arrowhead’s pipeline. Results showed that 52% to 55% of patients achieved triglyceride levels below 150 mg/dL, compared with 2% to 8% in the placebo group. Additionally, the study demonstrated a 78% reduction in acute pancreatitis for the intention-to-treat population and a 91% reduction for higher-risk patients.
Analysts highlighted improvements in safety and dosing metrics, including liver enzyme levels, fat reduction, platelet counts, and hypersensitivity reactions, positioning both therapies favorably against olezarsen. RBC Capital also maintained an outperform rating with a $100 price target.
Arrowhead’s fiscal third-quarter 2026 revenue reached $75.2 million, exceeding Wall Street’s forecast of $52.7 million. However, net loss per share widened to $1.36, compared with an expected loss of $1.20. The company’s commercial focus includes the upcoming launch of Tryngolza, with analysts noting broad prescription potential beyond high-risk patient segments.
Pipeline catalysts remain a key driver for the stock. Stifel pointed to upcoming data readouts for DIMER and MAPT in September, alongside updates on ALK7 and INHBE scheduled for the fourth quarter of 2026. The firm characterized Arrowhead as a commercial-stage entity with a validated and expanding platform, though InvestingPro analysis suggested the stock was slightly overvalued relative to its fair value estimate.
The reiteration comes as Arrowhead advances multiple therapies targeting severe hypertriglyceridemia and related metabolic disorders, positioning the company for potential market expansion in the coming quarters.
