Bernstein initiated coverage of Arrowhead with a Market Perform rating and $27 price target. The analyst believes ARO-APOC3 and ARO-ANG3, the company’s lead cardiometabolic assets, will deliver substantial value to patients, but is "not so sure about shareholders." The firm believes the addressable market for severe hypertriglyceridemia is only 500,000 patients in the U.S., in contrast to management’s estimate of 3M-4M.
Published first on TheFly
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