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Arrowhead Pharmaceuticals Inc. stock reached a new 52-week high, hitting 31.7 USD, as it continues to demonstrate robust growth. According to InvestingPro data, the company’s market capitalization now stands at $4.32 billion, with a strong current ratio of 4.87 indicating solid financial health. Over the past year, the company’s stock has experienced a significant increase of 58.15%, reflecting strong investor confidence and positive market sentiment. This milestone underscores the company’s ongoing momentum and its ability to capitalize on opportunities within the pharmaceutical sector. With analysts projecting revenue growth of 208% for the current year, Arrowhead Pharmaceuticals continues to show promise. However, InvestingPro analysis suggests the stock is currently trading above its Fair Value, with additional ProTips available for subscribers to make more informed investment decisions.
In other recent news, Arrowhead Pharmaceuticals has filed for regulatory approval to initiate a Phase 1/2a clinical trial for ARO-MAPT, a therapeutic targeting Alzheimer’s disease. The trial, pending approval in New Zealand, aims to involve 64 healthy subjects and 48 individuals with early Alzheimer’s. In a significant development, Arrowhead announced a global licensing and collaboration agreement with Novartis, which includes a $200 million upfront payment and potential milestone payments up to $2 billion. This deal focuses on Arrowhead’s siRNA therapy for Parkinson’s Disease and other neurological conditions.
Additionally, H.C. Wainwright reaffirmed its Buy rating on Arrowhead Pharmaceuticals, maintaining a price target of $80.00, citing positive industry developments. In another strategic move, Arrowhead will receive $50 million worth of its own stock from Sarepta Therapeutics as part of a milestone payment, with the remaining $50 million to be paid in cash. This stock buyback will reduce the number of outstanding shares in Arrowhead’s treasury. Meanwhile, Sarepta sold over 9.2 million shares of Arrowhead in a block trade, expecting to gain at least $174 million in gross proceeds from the sale.
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