Following these transactions, Myszkowski retains direct ownership of 455,433 shares of Arrowhead Pharmaceuticals (NASDAQ:ARWR) common stock. The company, headquartered in Pasadena, California, is engaged in the development of pharmaceutical preparations. Analyst price targets for the stock range from $24 to $80, suggesting significant potential upside. For deeper insights into ARWR's valuation and financial health, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks. Analyst price targets for the stock range from $24 to $80, suggesting significant potential upside. For deeper insights into ARWR's valuation and financial health, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.
The sales were executed over three days, with shares sold at varying prices. On January 6, 2025, Myszkowski sold 27,167 shares at prices ranging from $19.68 to $20.10, totaling $696,195. The following day, he sold an additional 17,000 shares at $19.69 per share, amounting to $196,900.
These transactions were conducted under a pre-established 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at specified times. The sales were partially made to cover tax obligations related to restricted stock units, as noted in the filing's footnotes. According to InvestingPro analysis, while the company maintains strong liquidity with a current ratio of 6.74, it is currently experiencing rapid cash burn.
Following these transactions, Myszkowski retains direct ownership of 455,433 shares of Arrowhead Pharmaceuticals common stock. The company, headquartered in Pasadena, California, is engaged in the development of pharmaceutical preparations.
In other recent news, Arrowhead Pharma has been making significant progress in its operations and strategic partnerships. The company's significant licensing and collaboration agreement with Sarepta Therapeutics (NASDAQ:SRPT), involving an upfront payment of $850 million and potential additional payments totaling $550 million, is expected to support Arrowhead's financial stability until 2028. In addition, Arrowhead has submitted a New Drug Application (NDA) for plozasiran, a potential treatment for Familial Chylomicronemia Syndrome (FCS). The company is also engaged in several Phase III trials, including SHASTA-3 and SHASTA-4 for Severe Hypertriglyceridemia (SHTG), as well as the MUIR-3 trial for Homozygous Genetic Triglyceridemia (HGT).
Analysts have been closely monitoring these developments. B.Riley reiterated its Buy rating on Arrowhead stock, emphasizing the company's dominance in the siRNA therapeutics market and the potential benefits from the recent FDA approval of a similar drug, Tryngolza. Meanwhile, H.C. Wainwright maintained a Buy rating, raising the stock's price target from $60.00 to $80.00, and Piper Sandler reduced its 12-month price target to $45 from the previous $62 while maintaining an Overweight rating. These ratings reflect the analysts' confidence in Arrowhead's financial prospects and ongoing clinical developments.
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