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PASADENA, CA—Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) CEO Christopher Anzalone recently executed a series of stock transactions, selling a total of 300,000 shares for approximately $5.27 million. The sales were conducted over two days, with shares sold at prices ranging from $17.02 to $18.03. The transactions come as the stock trades near its 52-week low of $16.57, having declined 49% over the past year, according to InvestingPro data.
The transactions, reported in a recent SEC filing, also included the exercise of stock options. Anzalone acquired 300,000 shares through option exercises at a price of $7.75 per share, bringing the total value of these acquisitions to $2.33 million. These options were fully vested and exercisable since March 6, 2015. Notably, while the stock currently appears overvalued based on InvestingPro’s Fair Value analysis, analysts maintain price targets ranging from $21 to $80 for the $2.18 billion market cap company.
The stock sales were part of a pre-established 10b5-1 trading plan, which allows company insiders to set up a schedule for selling shares in advance to avoid potential conflicts of interest. The plan was activated as the stock options were nearing their expiration date.
Following these transactions, Anzalone holds a significant number of shares in the company, maintaining a direct ownership interest in Arrowhead Pharmaceuticals.
In other recent news, Arrowhead Pharmaceuticals reported a significant earnings miss for the first quarter of fiscal year 2025, with earnings per share at -$1.39, far below the forecast of -$0.39. The company’s revenue also fell short of expectations, coming in at $2.5 million compared to a projected $74.42 million. Despite these financial setbacks, Arrowhead secured a substantial $1.375 billion licensing deal with Sarepta Therapeutics (NASDAQ:SRPT), which has bolstered its cash reserves and extended its financial runway into 2028. RBC Capital maintained an Outperform rating for Arrowhead, emphasizing the strategic focus on cardiometabolic programs following the Sarepta deal. Chardan Capital Markets reaffirmed a Buy rating with a $60 price target, highlighting Arrowhead’s ongoing clinical trials, particularly for its drug plozasiran aimed at treating severe hypertriglyceridemia. BofA Securities, however, revised its price target for Arrowhead to $41 from $46, maintaining a Buy rating and noting strategic shifts in the company’s pipeline. Additionally, Arrowhead has launched a new patient support website and white paper to aid individuals with Familial Chylomicronemia Syndrome, reflecting the company’s commitment to advancing treatments for rare diseases.
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