Arrowhead Pharmaceuticals could notch more gains as the biotechnology firm prepares to release data tied to clinical trials for its treatment for a very common medical condition, according to Morgan Stanley. The investment bank upgraded the pharma stock to overweight from equal weight. It also hiked its price target on shares to $100 from $78, implying 44.4% upside from Monday's close. Arrowhead has already been on fire of late. The stock is up more than 473% over the past year. However, analyst Michael Ulz thinks shares have even more room to run. ARWR 1Y mountain ARWR 1-yr chart "We expect momentum to continue ahead of [phase three clinical trial] data [for Plozasiran] in 3Q26, where we expect positive data to unlock a multibillion-dollar opportunity that remains underappreciated," analyst Ulz said in a note to clients. "This combined with pipeline optionality contributes to a favorable outlook. Arrowhead Pharmaceuticals is expected to release data from the third phase of studies on its investigational RNA interference therapeutic Plozasiran in the third quarter of 2026 — a move that could boost its stock, according to Morgan Stanley. The medication is designed to treat patients with severe hypertriglyceridemia, a condition that affects one-in-five adults in the U.S., according to non-profit medical center Cleveland Clinic. "Data from studies of plozasiran (Redemplo) in severe hypertriglyceridemia are "expected to drive continued momentum," Ulz wrote. "Based on prior data and a similarly designed study with a comparable patient population … we expect positive results." "While enthusiasm around SHTG has already driven notable share appreciation, we see opportunity for further upside supported by our higher sales expectations," Ulz wrote. Morgan Stanley's call falls in line with consensus on Wall Street. Of the 13 analysts covering the stock, 10 have a buy or strong buy rating on shares, LSEG data shows.
