Christopher Anzalone, the Chief Executive Officer of Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR), recently sold shares worth approximately $219,456. The transaction, which took place on January 2, involved the sale of 11,520 shares at a weighted average price of $19.05 per share. The sale comes as the stock has declined 45% over the past year, though analysts maintain price targets ranging from $24 to $80. This sale was conducted under a 10b5-1 trading plan, a pre-established trading strategy allowing insiders to sell shares at predetermined times, and was partially aimed at satisfying tax withholding obligations. Following this transaction, Anzalone retains ownership of 3,764,252 shares in the $2.44 billion market cap company. InvestingPro analysis reveals the company is quickly burning through cash, though its liquid assets exceed short-term obligations. Discover comprehensive insider trading patterns and 10+ additional key insights with InvestingPro’s detailed research report.
In other recent news, Arrowhead Pharmaceuticals has been in the spotlight due to significant developments. B.Riley analysts have reiterated their Buy rating on Arrowhead, emphasizing the company’s dominance in the siRNA therapeutics market. This comes alongside Arrowhead’s ongoing regulatory review of its leading program, APOC3 targeting siRNA plozasiran, which analysts believe could benefit from the recent FDA approval of a similar drug, Tryngolza.
H.C. Wainwright also showed confidence in Arrowhead, raising the stock’s price target from $60.00 to $80.00 while maintaining a Buy rating. This optimism is driven by Arrowhead’s recent global license and collaboration agreement with Sarepta Therapeutics (NASDAQ:SRPT), which is expected to significantly support Arrowhead’s financial and developmental goals.
However, Bernstein SocGen Group lowered its price target for Arrowhead from $27.00 to $24.00, while Piper Sandler reduced its 12-month price target to $45 from the previous $62, and Citi slightly reduced the price target from $27.00 to $26.00. Despite these adjustments, all three firms maintained their respective ratings on the stock.
Arrowhead has also made significant strides in its drug development pipeline, with a New Drug Application filed with the FDA for plozasiran targeting apolipoprotein C-III for the treatment of familial chylomicronemia syndrome. This comes alongside the announcement of a transformative licensing and collaboration agreement with Sarepta Therapeutics, which is expected to bolster Arrowhead’s financial stability until 2028.
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