Arrowhead Pharmaceuticals (ARWR) is poised to transition to a commercial group after receiving its first drug approval from the US Food and Drug Administration, RBC Capital Markets said in a Tuesday note.

The FDA recently approved the company's Redemplo, also known as plozasiran, for the treatment of adults with familial chylomicronemia syndrome, or FCS. RBC said the label is "generally comparable" with that of Ionis Pharmaceuticals (IONS).

Ionis is planning to price the drug at $10,000 to $20,000 for the treatment of severe hypertriglyceridemia, or sHTG, while Arrowhead is pricing the drug at $60,000, RBC noted. The investment firm said Ionis is likely to level its price with Arrowhead.

RBC also noted that Redemplo's filing in the European Union is currently under review and Arrowhead could be looking for a partner in the region.

RBC raised its price target on Arrowhead Pharmaceuticals to $52 from $45, while maintaining an outperform rating.

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