Arrowhead Pharmaceuticals (NASDAQ:ARWR) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07, FiscalAI reports. The company had revenue of $256.47 million during the quarter, compared to the consensus estimate of $147.53 million.

Arrowhead Pharmaceuticals Stock Up 5.7%

ARWR traded up $2.53 during trading on Tuesday, hitting $46.79. The company had a trading volume of 2,662,660 shares, compared to its average volume of 2,057,762. The company has a market capitalization of $6.47 billion, a PE ratio of -36.55 and a beta of 1.27. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $46.92. The firm’s 50-day moving average price is $37.26 and its 200 day moving average price is $24.94.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. B. Riley raised shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. The Goldman Sachs Group raised their price objective on Arrowhead Pharmaceuticals from $27.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, November 20th. Piper Sandler lifted their target price on Arrowhead Pharmaceuticals from $45.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, Royal Bank Of Canada boosted their target price on Arrowhead Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Arrowhead Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $48.22.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the sale, the insider owned 212,122 shares of the company’s stock, valued at $7,424,270. This trade represents a 8.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 50,000 shares of company stock worth $1,525,000. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Arrowhead Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. iSAM Funds UK Ltd acquired a new position in Arrowhead Pharmaceuticals during the third quarter worth $29,000. Daiwa Securities Group Inc. lifted its position in Arrowhead Pharmaceuticals by 883.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,189 shares of the biotechnology company’s stock worth $66,000 after buying an additional 3,763 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Arrowhead Pharmaceuticals during the 2nd quarter worth about $91,000. Quadrant Capital Group LLC bought a new position in shares of Arrowhead Pharmaceuticals in the 3rd quarter valued at about $140,000. Finally, State of Wyoming acquired a new stake in shares of Arrowhead Pharmaceuticals in the second quarter valued at about $142,000. 62.61% of the stock is currently owned by institutional investors and hedge funds.

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.