Arrowhead Pharmaceuticals (NASDAQ:ARWR) Releases Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Key Points

• Arrowhead Pharmaceuticals reported a quarterly loss of ($1.26) EPS, missing expectations by ($0.32) as analysts had forecasted a loss of ($0.94).
• The company's revenue for the quarter was $27.77 million, below the anticipated $29.01 million, although it showed an improvement from last year's ($1.38) EPS.
• Despite the earnings miss, Arrowhead Pharmaceuticals has seen significant interest from institutional investors, with 62.61% of its stock currently owned by them.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) posted its earnings results on Thursday. The biotechnology company reported ($1.26) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.32), Zacks reports. The firm had revenue of $27.77 million for the quarter, compared to analysts' expectations of $29.01 million. During the same period last year, the company posted ($1.38) earnings per share.

Arrowhead Pharmaceuticals Stock Performance

NASDAQ ARWR traded up $0.36 during trading hours on Friday, hitting $16.42. The company's stock had a trading volume of 2,806,298 shares, compared to its average volume of 2,030,270. Arrowhead Pharmaceuticals has a 12 month low of $9.57 and a 12 month high of $27.34. The company's 50 day simple moving average is $16.48 and its two-hundred day simple moving average is $15.99. The company has a market cap of $2.27 billion, a P/E ratio of -12.83, a price-to-earnings-growth ratio of 23.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.15 and a quick ratio of 5.15.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

Large investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its position 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 purchasing an additional 979 shares during the last quarter. Focus Partners Wealth boosted its position in Arrowhead Pharmaceuticals by 1,339.5% in the first quarter. Focus Partners Wealth now owns 16,252 shares of the biotechnology company's stock worth $207,000 after purchasing an additional 15,123 shares during the last quarter. AQR Capital Management LLC purchased a new position in Arrowhead Pharmaceuticals in the first quarter worth about $514,000. Royal Bank of Canada boosted its position in Arrowhead Pharmaceuticals by 30.2% in the first quarter. Royal Bank of Canada now owns 45,239 shares of the biotechnology company's stock worth $576,000 after purchasing an additional 10,496 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Arrowhead Pharmaceuticals by 34.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,741,666 shares of the biotechnology company's stock worth $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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ARWR shares. TD Cowen upgraded shares of Arrowhead Pharmaceuticals to a "strong-buy" rating in a report on Monday, July 28th. Wall Street Zen cut shares of Arrowhead Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Royal Bank Of Canada dropped their target price on shares of Arrowhead Pharmaceuticals from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday. Citigroup dropped their target price on shares of Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.14.

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.

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