Arrowhead Pharmaceuticals (NASDAQ:ARWR) Announces Earnings Results, Misses Estimates By $1.48 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) released its earnings results on Thursday. The biotechnology company reported ($3.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($1.48), FiscalAI reports. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%. The firm had revenue of $37.79 million for the quarter, compared to analyst estimates of $61.18 million.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ ARWR traded down $2.21 during mid-day trading on Thursday, reaching $47.15. The company had a trading volume of 2,154,199 shares, compared to its average volume of 2,256,433. The company has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $71.20. The stock has a market cap of $6.64 billion, a PE ratio of -20.96 and a beta of 1.34. The company has a current ratio of 5.90, a quick ratio of 5.90 and a debt-to-equity ratio of 1.77. Arrowhead Pharmaceuticals has a 1-year low of $37.06 and a 1-year high of $95.49.

Insider Buying and Selling at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $86.96, for a total value of $173,920.00. Following the transaction, the director owned 31,600 shares of the company’s stock, valued at approximately $2,747,936. This trade represents a 5.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Perry sold 11,600 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $87.30, for a total value of $1,012,680.00. Following the sale, the director owned 111,459 shares in the company, valued at approximately $9,730,370.70. The trade was a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ARWR has been the subject of a number of research analyst reports. Chardan Capital reissued a “buy” rating and issued a $115.00 price target on shares of Arrowhead Pharmaceuticals in a report on Thursday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research note on Monday, August 17th. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, September 24th. They issued a “neutral” rating and a $74.00 target price on the stock. Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, UBS Group began coverage on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. They set a “buy” rating and a $109.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $99.07.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company’s research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.