New York, Feb 9, 2026, 15:05 EST — Regular session
- Arrowhead shares slipped roughly 0.7% in the afternoon, following a volatile intraday move.
- The S&P Dow Jones Indices move into the S&P MidCap 400 became official ahead of Monday’s opening bell.
- Goldman Sachs stuck with its Neutral rating and $85 price target, citing several pipeline readouts expected in 2026.
Arrowhead Pharmaceuticals (ARWR.O) slipped roughly 0.7% to $64.10 Monday afternoon, following a session that saw the stock range from $61.48 up to $66.17.
Churn is significant here: the mix of shareholders is changing. On volatile days like this, it’s mostly index funds—not the traditional stock pickers—making major trades as they realign with benchmark shifts.
Arrowhead landed in the S&P MidCap 400 from the S&P SmallCap 600 ahead of Monday’s open, following a wider shakeup, according to S&P Dow Jones Indices.
Goldman Sachs kept its Neutral rating and $85 price target on Monday, telling investors to keep an eye on a loaded 2026 pipeline. The bank called out the Phase 3 plozasiran studies in severe hypertriglyceridemia—those dangerously high blood fat levels linked to pancreatitis—where trial data should land in the third quarter. Goldman also mentioned that pricing could get squeezed if Ionis Pharmaceuticals’ competing therapy, Tryngolza, moves into the same severe hypertriglyceridemia space.
Arrowhead turned in fiscal first-quarter revenue of $264.0 million, with diluted earnings coming in at 22 cents per share for the period ending Dec. 31. Redemplo, the company’s first commercial product, has picked up over 100 prescriptions so far, management said. “We had another quarter of strong execution,” Chief Executive Christopher Anzalone commented in the release. Nasdaq
Redemplo, or plozasiran, secured U.S. approval back in November for use in familial chylomicronemia syndrome—a rare condition that pushes triglyceride levels to dangerous highs.
The S&P MidCap 400 tracks 400 mid-sized firms, slotting them between the S&P 500’s large caps and the smaller names in other indices, according to S&P. Stocks joining the index typically see a lift in passive holders and liquidity, but that initial jolt of activity tends to taper off after the index reshuffle.
In other RNA biotech names, Ionis (IONS.O) slipped roughly 1.7% Monday. Sarepta Therapeutics (SRPT.O), which partners with Arrowhead, dropped close to 2%. Shares of Novartis (NVS.N), also a partner, edged up.
Arrowhead’s real gamble isn’t about any index tag. The company is banking on late-stage results and pricing holding firm as plozasiran heads into tougher, more crowded indications. That, plus whether its wider RNA interference pipeline can actually deliver both solid safety and lasting efficacy, is the crux.
Roughly 2.8 million shares changed hands by mid-afternoon, a hefty volume for such a muted price swing. Monday’s action looks more like portfolio shuffling than any new shift in the fundamentals.
As the session wraps up, eyes turn to the 4 p.m. ET auction, with traders gauging any leftover index-driven demand and watching to see if the stock hangs onto its lows after the forced flows clear out.
