Victoria Vakiener, a director at Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR), a $2.6 billion market cap biotech company, recently sold 8,994 shares of the company's common stock. According to InvestingPro data, the stock is currently trading below the transaction price at $20.36, with analysts maintaining a bullish stance on the company's prospects. The transactions, executed on December 16, were conducted at a weighted average price of $21.91 per share, with prices ranging from $21.54 to $22.20. This sale, which was part of a pre-established 10b5-1 trading plan, amounted to a total value of $197,058. Following the sale, Vakiener retains ownership of 21,211 shares of Arrowhead Pharmaceuticals. The shares were partially disposed of to satisfy tax withholding obligations related to previously granted Restricted Stock Units. InvestingPro analysis reveals that while the company maintains strong liquidity with a current ratio of 6.74, it faces near-term challenges with negative earnings. For comprehensive insights and 12 additional ProTips, explore the detailed Pro Research Report available on InvestingPro.
In other recent news, Arrowhead Pharma has seen a boost in its financial prospects following a significant global license and collaboration agreement with Sarepta Therapeutics (NASDAQ:SRPT). The deal, which focuses on rare genetic diseases, involves a substantial upfront payment of $500 million and an additional $325 million through a common stock purchase. This influx of capital is expected to support Arrowhead's financial and developmental goals, including the anticipated launch of its first RNA interference (RNAi) therapeutic in 2026, pending approval.
Arrowhead has also made progress in its drug development pipeline, notably with plozasiran, a therapy targeting apolipoprotein C-III for the treatment of familial chylomicronemia syndrome. The FDA has granted Breakthrough Therapy Designation to plozasiran, potentially expediting the approval process. Additionally, Arrowhead has filed Clinical Trial Applications for its obesity programs, ARO-INHBE and ARO-ALK7, with plans to initiate Phase 1/2 studies in 2025.
Investment firms H.C. Wainwright, Piper Sandler, Bernstein SocGen Group, and Citi have all recently adjusted their outlooks on Arrowhead, with H.C. Wainwright raising the stock's price target from $60.00 to $80.00 and maintaining a Buy rating. Despite some firms lowering their price targets, all have maintained their respective ratings on the stock. These recent developments underscore the ongoing momentum and strategic positioning of Arrowhead Pharma.
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