Arrowhead Pharmaceuticals (NASDAQ:ARWR) Announces Quarterly Earnings Results

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) issued its quarterly earnings results on Monday. The biotechnology company reported $2.75 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $2.81, Zacks reports. The firm had revenue of $542.71 million for the quarter, compared to analysts' expectations of $116.27 million. During the same period in the prior year, the company earned ($1.02) EPS.

Arrowhead Pharmaceuticals Price Performance

Shares of NASDAQ:ARWR traded up $0.37 on Friday, hitting $15.71. The company's stock had a trading volume of 1,821,408 shares, compared to its average volume of 1,483,733. The company has a market capitalization of $2.17 billion, a PE ratio of -3.04 and a beta of 0.89. The company has a debt-to-equity ratio of 7.27, a current ratio of 6.09 and a quick ratio of 6.09. The company has a 50-day simple moving average of $13.30 and a 200 day simple moving average of $17.79. Arrowhead Pharmaceuticals has a 1 year low of $9.57 and a 1 year high of $30.41.

Insider Buying and Selling

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 51,425 shares of Arrowhead Pharmaceuticals stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $15.07, for a total transaction of $774,974.75. Following the completion of the sale, the chief executive officer now owns 4,062,377 shares of the company's stock, valued at $61,220,021.39. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 275,880 shares of company stock worth $4,034,037. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently modified their holdings of ARWR. Empowered Funds LLC boosted its stake in Arrowhead Pharmaceuticals by 6.9% in the first quarter. Empowered Funds LLC now owns 15,252 shares of the biotechnology company's stock worth $194,000 after buying an additional 979 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter worth approximately $514,000. Royal Bank of Canada boosted its stake in shares of Arrowhead Pharmaceuticals by 30.2% in the 1st quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock valued at $576,000 after purchasing an additional 10,496 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Arrowhead Pharmaceuticals by 34.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock valued at $22,189,000 after purchasing an additional 447,456 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ARWR has been the subject of a number of research reports. StockNews.com upgraded shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Wednesday. Royal Bank of Canada reiterated an "outperform" rating and issued a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reissued a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Citigroup cut their price target on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, B. Riley reiterated a "buy" rating and set a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Arrowhead Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $42.13.

About Arrowhead Pharmaceuticals

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.