Christopher Anzalone, the Chief Executive Officer of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR), recently sold 12,563 shares of the company’s common stock. The shares were sold at a weighted average price of $19.59, resulting in a total transaction value of $246,109.
These sales were executed as part of a 10b5-1 trading plan, which Anzalone adopted in accordance with the Securities Exchange Act of 1934. The transaction, dated December 23, 2024, involved the partial disposition of restricted stock units to satisfy tax withholding obligations. Following this sale, Anzalone retains ownership of 3,775,772 shares of Arrowhead Pharmaceuticals. InvestingPro data reveals the company's WEAK financial health score, with rapid cash burn being a key concern. Subscribers can access detailed insider trading patterns and 10+ additional ProTips for deeper analysis.
In other recent news, Arrowhead Pharma has seen a significant boost in its financial outlook following a global license and collaboration agreement with Sarepta Therapeutics (NASDAQ:SRPT). The deal, which involves licensing assets focused on rare genetic diseases, will provide Arrowhead with an upfront payment of $500 million and an additional $325 million through a common stock purchase. This strategic partnership is expected to support the commercial launch of Arrowhead's first RNA interference (RNAi) therapeutic in 2026, pending approval.
Analysts have responded to these developments with varied outlooks. H.C. Wainwright raised Arrowhead's price target from $60.00 to $80.00, maintaining a Buy rating. In contrast, Bernstein SocGen Group, Piper Sandler, and Citi have all lowered their price targets for Arrowhead, though they maintained their respective ratings on the stock.
Arrowhead has also made progress in its drug development pipeline. The company recently filed a New Drug Application with the FDA for plozasiran, a therapy targeting apolipoprotein C-III for the treatment of familial chylomicronemia syndrome. Additionally, Arrowhead has filed Clinical Trial Applications for ARO-INHBE and ARO-ALK7, its obesity programs, with plans to initiate Phase 1/2 studies in the first quarter of 2025.
Despite reporting a net loss of $599.5 million for 2024, Arrowhead maintains a robust cash and investment balance of $681 million. The partnership with Sarepta Therapeutics, involving a substantial upfront payment and equity investment, is expected to sustain Arrowhead's operations well into 2028.
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