Arrowhead Pharmaceuticals (NASDAQ:ARWR) Announces Quarterly Earnings Results

Key Points

• Arrowhead reported adjusted EPS of -$0.93, beating estimates (consensus -$1.11), but revenue of $73.74M was down ~86% year‑over‑year and the quarter showed a net loss of $132.7M with operating spend near $215M; however, concurrent financings and deals left the company with nearly $1.8 billion in cash/investments and an ARO‑PNPLA3 license that could deliver up to $975M in milestones.
• REDEMPLO launch is outperforming expectations (~400 prescriptions written, ~30 new scripts/week and >10% switches) with a U.S. WAC of $45,000/year and regulatory approvals/positive opinions in multiple regions, supporting early commercial momentum.
• Multiple high‑impact clinical catalysts are imminent, including Q3 top‑line readouts for SHASTA‑3/4 and MUIR‑3 (plozasiran SHTG) to support an sNDA, first clinical data for ARO‑DIMER‑PA in Q3, and initial ARO‑MAPT CNS platform data end‑Q3/early‑Q4.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.93) EPS for the quarter, beating the consensus estimate of ($1.11) by $0.18, FiscalAI reports. Arrowhead Pharmaceuticals had a net margin of 18.54% and a return on equity of 35.64%. The business had revenue of $73.74 million during the quarter, compared to analyst estimates of $73.84 million. During the same quarter last year, the business earned $2.75 earnings per share. Arrowhead Pharmaceuticals's quarterly revenue was down 86.4% compared to the same quarter last year.

Here are the key takeaways from Arrowhead Pharmaceuticals' conference call:

• REDEMPLO launch is outperforming expectations with >400 prescriptions written (~30 new scripts/week, >10% switches), accelerating refills, positive payer interactions, a U.S. WAC of $45,000/year, and regulatory approvals in Canada, China, Australia plus a CHMP positive opinion for the EU.
• Several high‑impact clinical catalysts are imminent — top‑line Q3 readouts for SHASTA‑3/4 and MUIR‑3 (plozasiran SHTG) to support an sNDA, first clinical data for ARO‑DIMER‑PA in Q3, and initial ARO‑MAPT CNS platform data end‑Q3/early‑Q4, with additional ARO‑INHBE/ARO‑ALK7 updates in H2 2026.
• Financial and business‑development moves strengthen optionality — concurrent financings ($700M convertible notes + $230M equity) plus other inflows left Arrowhead with nearly $1.8 billion in cash/investments, and the ARO‑PNPLA3 license to Madrigal provides $25M upfront and up to $975M in milestones plus royalties.
• Q2 results show a net loss of $132.7M (vs prior‑year quarter that included a one‑time Sarepta gain), operating expenses of ~ $215M and only about $1M of derived net product sales, reflecting heavy ongoing R&D and commercialization spending.

Arrowhead Pharmaceuticals Trading Down 1.5%

Shares of Arrowhead Pharmaceuticals stock traded down $1.19 during trading on Thursday, hitting $77.95. The stock had a trading volume of 2,337,541 shares, compared to its average volume of 1,792,252. The firm's fifty day simple moving average is $64.30 and its 200-day simple moving average is $60.36. The stock has a market cap of $10.92 billion, a PE ratio of 50.95 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.38 and a quick ratio of 3.38. Arrowhead Pharmaceuticals has a 12 month low of $12.44 and a 12 month high of $79.48.

Analysts Set New Price Targets

ARWR has been the subject of several research reports. Piper Sandler reiterated an "overweight" rating and set a $110.00 price objective (up from $100.00) on shares of Arrowhead Pharmaceuticals in a research report on Tuesday, January 13th. Morgan Stanley upgraded shares of Arrowhead Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $78.00 to $100.00 in a research report on Tuesday, April 21st. The Goldman Sachs Group increased their price objective on shares of Arrowhead Pharmaceuticals from $50.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, January 7th. B. Riley Financial boosted their target price on Arrowhead Pharmaceuticals from $61.00 to $101.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. started coverage on Arrowhead Pharmaceuticals in a research report on Friday, May 1st. They set an "overweight" rating and a $88.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $84.20.

Insider Activity

In other news, insider James C. Hamilton sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the sale, the insider owned 226,958 shares in the company, valued at approximately $17,021,850. This trade represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Joseph Apel sold 13,095 shares of the firm's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $71.35, for a total transaction of $934,328.25. Following the completion of the sale, the chief financial officer owned 162,905 shares of the company's stock, valued at $11,623,271.75. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 33,095 shares of company stock valued at $2,326,228 in the last 90 days. Company insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently made changes to their positions in ARWR. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Arrowhead Pharmaceuticals by 3,142.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,081,689 shares of the biotechnology company's stock worth $71,797,000 after acquiring an additional 2,017,489 shares during the last quarter. Deerfield Management Company L.P. bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $34,249,000. Vestal Point Capital LP bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter valued at about $59,751,000. Balyasny Asset Management L.P. bought a new stake in Arrowhead Pharmaceuticals during the 3rd quarter valued at about $27,349,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Arrowhead Pharmaceuticals by 660.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 838,818 shares of the biotechnology company's stock valued at $55,690,000 after buying an additional 728,573 shares in the last quarter. Institutional investors own 62.61% of the company's stock.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Since its founding in 2008, Arrowhead has leveraged its proprietary delivery platform—known internally as the Advanced RNAi Compound (ARC) technology—to silence disease-causing genes in patients suffering from genetically defined diseases. The company's approach aims to offer durable, targeted treatments across a range of therapeutic areas.

The company's pipeline includes multiple candidates in various stages of development.

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