Arrowhead initiated with a Neutral at Citi

Citi initiated coverage of Arrowhead Pharmaceuticals with a Neutral rating and $33 price target. The analyst says the company’s “powerful” RNAi platform has created a large portfolio of wholly owned and partnered assets. While thePhase 3-stage plozasiran could garner FDA approval for familial chylomicronemia syndrome, potential growth in the broader hypertriglyceridemia market appears priced into the shares, the analyst tells investors in a research note. The firm sees a balanced risk/reward profile at current share levels.