Arrowhead Pharmaceuticals (NASDAQ:ARWR) Issues Earnings Results, Misses Estimates By $0.80 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) issued its earnings results on Thursday. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80), Briefing.com reports. Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.96) earnings per share.

Arrowhead Pharmaceuticals Price Performance

Arrowhead Pharmaceuticals stock traded down $2.44 during midday trading on Friday, reaching $23.41. The company had a trading volume of 2,926,652 shares, compared to its average volume of 1,273,763. The company has a market capitalization of $2.91 billion, a P/E ratio of -5.51 and a beta of 0.94. Arrowhead Pharmaceuticals has a 12-month low of $20.67 and a 12-month high of $39.83. The firm’s fifty day simple moving average is $26.33 and its 200-day simple moving average is $27.20.

Insider Activity at Arrowhead Pharmaceuticals

In related news, insider Tracie Oliver sold 9,394 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the transaction, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARWR. The Goldman Sachs Group began coverage on Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Morgan Stanley cut their price target on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Monday, May 13th. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.71.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes Plozasiran, which is in Phase 2b and one Phase 3 clinical trial to treat hypertriglyceridemia, mixed dyslipidemia, and chylomicronemia syndrome; Zodasiran that is in Phase 2b clinical trial for the treatment of dyslipidemia and hypertriglyceridemia; ARO-PNPLA3, which is in Phase 1 clinical trial to treat patients with non-alcoholic steatohepatitis; ARO-RAGE that is in Phase 1/2a clinical trial to treat inflammatory pulmonary conditions; and ARO-MUC5AC, which is in Phase 1/2a clinical trial to treat muco-obstructive pulmonary diseases.