Company Focus
Overview
Price Chart
Key Metrics
Valuation
Financials
Earnings
Dividends
Analyst Ratings
Insider Trades
Events Timeline
News + Sentiment
Peer Comparison
Arrowhead Pharmaceuticals
ARWR Large CapHealthcare · Biotechnology
Updated: May 22, 2026, 22:06 UTC
Key Metrics
Valuation Analysis
About the Company
Arrowhead Pharmaceuticals, Inc. develops medicines for the treatment of intractable diseases in the United States. Its pipeline includes Plozasiran to reduce production of apolipoprotein C-III in Phase 3 studies; Zodasiran to reduce production of angiopoietin-like protein 3 in Phase 3 clinical trials; ARO-DIMER-PA, a dual functional RNAi molecule in a Phase 1/2a clinical trials; and ARO-PNPLA3, an investigational RNAi therapeutic in Phase 1 clinical trials. The company also develops ARO-INHBE, to reduce the hepatic expression of the INHBE gene and its secreted gene product, Activin E in Phase 1/2a clinical trials; ARO-ALK7 to silence adipocyte expression of the ACVR1C gene in Phase 1/2a clinical trials; ARO-RAGE to reduce production of the receptor for advanced glycation end products in Ph
Arrowhead Pharmaceuticals Stock at a Glance
Arrowhead Pharmaceuticals (ARWR) is currently trading at $74.95 with a market capitalization of $10.6B. The 52-week range spans from $14.30 to $82.26; the current price is 8.9% below the yearly high. Year-over-year revenue growth stands at -86.4%.
💰 Dividend
Arrowhead Pharmaceuticals currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
12 analysts rate Arrowhead Pharmaceuticals (ARWR) on consensus: Buy. The average price target is $88.17, implying +17.63% from the current price. Analyst price targets range from $46.00 to $110.00.
Investment Thesis: Strengths & Weaknesses
- High gross margin of 100% — indicates pricing power
- Analyst consensus: Buy
- –Revenue shrinking (-86.4% YoY)
- –Currently unprofitable
- –High leverage (D/E 231.05)
- –High short interest (12.83%)
- –Negative free cash flow
Technical Snapshot
Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).
Risk Profile
The data points to market-like volatility, elevated short interest (12.83%), higher leverage relative to equity.
Trading Data
Related Stocks in the Same Sector
Arrowhead Pharmaceuticals 2026: Plozasiran FDA Decision, Post-Sarepta Restart and the RNAi Cardio-Metabolic Bet
The Real Story
Arrowhead is the second-largest US RNAi (RNA-interference) developer after Alnylam and has spent the last decade building a TRiM (Targeted RNAi Molecule) platform that delivers gene-silencing drugs to liver and extra-hepatic tissue. FY2025 revenue collapsed 86% to USD 622 M because the recognition cycle from the November-2024 Sarepta licensing deal completed and the contract was terminated in October 2025 — Sarepta returned full rights to seven cardio-metabolic programs after its own DMD-business cash crisis. Arrowhead pocketed approximately USD 825 M cumulative upfront plus equity proceeds and walked back to a fully owned, fully controlled pipeline.
The 2026 strategic story is binary. Plozasiran (apoC-III silencer) has a FDA PDUFA date of November 2026 for familial chylomicronemia syndrome (FCS) — the PALISADE pivotal showed 80% triglyceride reduction at 12 months with rare pancreatitis events. If approved, Plozasiran becomes the fifth commercial RNAi globally (after Alnylam Onpattro/Givlaari/Oxlumo/Amvuttra) and the first US-developed RNAi for severe hypertriglyceridemia, an indication where Ionis Olezarsen already launched in Q4/2024 with USD 90k+ pricing. Second, Zodasiran (ANGPTL3 silencer) has Phase-3 ARCHES-2 readout in homozygous familial hypercholesterolemia (HoFH) expected Q3/2026. Third, the obesity-adjacency programs (ARO-INHBE Activin-E, ARO-ALK7) advance to Phase-2 readouts in 2027.
The 2026 question is whether Plozasiran clears FDA (expected probability 85%) and what the early Olezarsen launch tells us about commercial uptake in a sub-3,000-patient orphan indication, while the broader cardio-metabolic pipeline funds itself through partnership economics rather than dilution.
What Smart Money Thinks
Top holders Q1/2026: Vanguard 11.2%, BlackRock 9.0%, Baker Bros Advisors 6.5% (specialist biotech investor since 2017), State Street 4.4%, Avoro Capital 3.8%, RA Capital Management 2.1%. Free-float effectively 90%, no founder block.
Most interesting move: Baker Bros increased its position 18% in Q1/2026 — first net add since 2022. Baker Bros has been the most credible long-term holder through the Sarepta collapse, signaling conviction in the Plozasiran approval thesis. Perceptive Advisors exited entirely in Q3/2025 (post-Sarepta news) — a clear bear signal that has not yet been reversed. RA Capital opened a new 2.1% position in Q4/2025 at sub-USD 25 prices, a value-pivot from its usual early-stage focus.
Insider activity: CEO Christopher Anzalone (founder-CEO since 2007) made no open-market buys in 2024-2025 — usual restraint pattern. The board adopted a 10b5-1 buyback authorization of USD 75 M in March 2026, never previously deployed by Arrowhead. CFO Ken Myszkowski sold USD 850k of stock in Q1/2026 — modest, after Sarepta-related option vests.
Short interest 12.83% (short ratio 7.3 days to cover) — high. The bear thesis is concentrated on competition from Ionis Olezarsen (already approved for FCS), GLP-1 displacement in obesity-adjacent indications and the post-Sarepta cash-runway question. A successful Plozasiran approval would be the classic biotech short-squeeze setup.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
PALISADE pivotal trial showed 80% triglyceride reduction at 12 months with rare acute-pancreatitis events in the FCS population. FDA Adcomm meeting is not scheduled as of May 2026, which historically signals approval pathway without controversy. Approval probability indicated by analyst consensus is 85%. Plozasiran would launch into the same FCS indication as Ionis Olezarsen (approved Q4/2024) but with a quarterly subcutaneous dosing schedule versus Olezarsen monthly — a real-world adherence advantage. Pricing parity at USD 90k+ annually with an addressable US population of 1,500-3,000 confirmed FCS patients gives a USD 135-270 M peak-sales single indication, plus label expansion to severe-hypertriglyceridemia (sHTG) opening a 75,000-patient population by 2028.
Phase-3 ARCHES-2 in homozygous familial hypercholesterolemia (HoFH) reads out Q3/2026. HoFH is an ultra-rare orphan indication (around 1,300 US patients) where the current standard of care is evinacumab (Regeneron Evkeeza) intravenous monthly at USD 450k annual. Zodasiran is subcutaneous quarterly — a meaningful patient-experience improvement at a target price of USD 250-300k annual. Even modest market share by 2028 supports USD 100-150 M peak sales. Beyond HoFH, ANGPTL3 silencing opens optionality in mixed dyslipidemia, a 10-20 M US patient population.
ARO-INHBE targets Activin-E, a hepatokine implicated in visceral-fat accumulation and metabolic syndrome. ARO-ALK7 targets the adipose-cell ACVR1C receptor whose loss-of-function variants associate with lower BMI and improved metabolic health. Both programs are Phase-1/2a with first BMI/visceral-fat data expected H2/2026 — first ever clinical readouts for RNAi in metabolic-disease space outside lipid biology. If either shows meaningful 12-week weight or visceral-fat reduction, this becomes a USD 5 B+ asset overnight and a likely big-pharma re-licensing target. Bear case is GLP-1 dominance suppressing partner interest, but RNAi quarterly dosing has potential combination synergy with GLP-1 monthly maintenance.
📉 The 3 Real Bear Points
Cash and equivalents as of Q1/2026 approximately USD 700 M against quarterly operating cash burn of USD 80-100 M. Adjusted runway is mid-2027, before Plozasiran would meaningfully contribute commercial revenue. If Plozasiran PDUFA delays by 6 months or label is restrictive, Arrowhead will need to dilute equity in 2026 — every USD 250 M raise at current levels is 4-5% dilution. Bear-case dilution is 15% by mid-2027.
Ionis Olezarsen launched in FCS Q4/2024 with monthly subcutaneous dosing and first-mover positioning. Real-world commercial uptake has been slow (Q1/2026 sales USD 28 M), reflecting the niche population, but Ionis will have 18-24 months of payer-formulary lock-in before Plozasiran reaches launch. In broader hypercholesterolemia, Novartis Leqvio (inclisiran, PCSK9 silencer) commands the RNAi-cardio mind-share among cardiologists. Arrowhead needs to differentiate on FCS pancreatitis-prevention data, severe-hypertriglyceridemia opportunity and patient-adherence story.
The ARO-INHBE and ARO-ALK7 obesity programs face a market dominated by GLP-1 agonists (Wegovy, Zepbound) with 15-22% weight-reduction data and well-established commercial infrastructure. Even successful Phase-1/2a readouts of 8-12% weight loss for RNAi candidates would face a steep clinical-differentiation hill, requiring combination-therapy positioning or specific patient-subset wins (visceral-fat reduction, NASH-co-morbidity). Big-pharma partnership economics will be tougher than the 2021-2024 RNAi-deal cycle.
Valuation in Context
EV/Revenue 17.4x reflects pre-commercial biotech multiple where revenue is collaboration milestone noise. More relevant: enterprise value approximately USD 11 B against risk-adjusted NPV of Plozasiran USD 1.5 B, Zodasiran USD 0.8 B, and pipeline NPV USD 2-4 B — leaving the platform option valued at USD 3-5 B. Sell-side PT consensus USD 87.58 (range USD 46-110): JP Morgan most bullish at USD 110 (full Plozasiran + Zodasiran approval + obesity pipeline upside), HSBC most bearish at USD 46 (Plozasiran delays + Sarepta-style partner risk). 12 analysts cover. Implied Plozasiran approval probability in current price approximately 75%. Bull case USD 115 (+50%) on Plozasiran approves AND Zodasiran ARCHES-2 hits AND ARO-INHBE shows meaningful weight signal. Bear case USD 45 (-41%) on Plozasiran delay or CRL plus equity dilution.
🗓️ Next 3 Catalyst Dates
- Q3 2026: Zodasiran ARCHES-2 Phase 3 HoFH readout — second commercial pathway
- H2 2026: ARO-INHBE and ARO-ALK7 Phase 1/2a first weight-and-visceral-fat data
- November 2026: Plozasiran FDA PDUFA date — first commercial RNAi from Arrowhead
💬 Daniel's Take
Arrowhead is a classic late-stage-clinical biotech option — binary on Plozasiran approval with deep optionality in Zodasiran and the obesity adjacencies. At USD 76 the market is pricing 75% Plozasiran approval probability and zero contribution from the obesity programs. I think both are wrong: approval probability is closer to 85% based on PALISADE quality and no Adcomm scheduling, and ARO-INHBE alone is a USD 5 B option if the Activin-E thesis holds even 30%. I size ARWR at 1-1.5% as the speculative-biotech satellite position in a diversified portfolio. The trade I would not make is sizing above 2.5% — the Sarepta-collapse blueprint shows what happens when a single-asset biotech with cash-runway tightness loses its platform partner. Add trigger: Plozasiran approval or any obesity Phase-1/2a readout with weight reduction above 8%. Cut trigger: PDUFA delay beyond Q1/2027 or Zodasiran ARCHES-2 miss.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
Where can I buy Arrowhead Pharmaceuticals?
Compare top-rated brokers — low fees, trusted providers, fully regulated.