ADARx Seen Positioned for 'Multiple Blockbuster Opportunities,' Morgan Stanley Says

11:17 AM EDT, 10/20/2026 (MT Newswires) -- ADARx Pharmaceuticals (ADRX) is positioned for success with its validated siRNA platform and a clinical-stage pipeline expected to generate "multiple blockbuster opportunities" over the next few years, Morgan Stanley said Tuesday in a report. The biotech has developed an updated RNA platform designed to deliver strong, longer-lasting target suppression across multiple diseases, supported by early clinical data, Morgan Stanley said. ADARx's pipeline includes three liver-targeted programs. Its lead asset, agazisiran, has shown potent alternative pathway inhibition and is being studied across several complement-mediated diseases, with "pipeline-in-a-product" potential, the report said. Onvuzosiran for hereditary angioedema is in a phase 3 trial, while ADX-626 for secondary stroke prevention is expected to enter phase 2 next year, with data anticipated by year-end 2027, Morgan Stanley said. The programs may deliver multiple value-creating catalysts, with agazisiran and ADX-626 representing the most significant commercial opportunities, the report said. Morgan Stanley initiated coverage of ADARx stock with an overweight rating and $32 price target. Price: 17.52, Change: -0.11, Percent Change: -0.64