Arrowhead Pharmaceuticals (NASDAQ:ARWR) Shares Gap Up on Earnings Beat

Shares of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $13.97, but opened at $15.75. Arrowhead Pharmaceuticals shares last traded at $15.56, with a volume of 844,732 shares changing hands.

The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $2.81. 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 firm earned ($1.02) earnings per share.

Analyst Upgrades and Downgrades

ARWR has been the topic of a number of analyst reports. B. Riley reaffirmed a "buy" rating and set a $38.00 price objective (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. StockNews.com raised shares of Arrowhead Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Wednesday. Citigroup cut their price objective 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, Chardan Capital reissued a "buy" rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, May 13th. 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 a consensus target price of $42.13.

Insider Activity at Arrowhead Pharmaceuticals

In related news, CEO Christopher Richard Anzalone sold 40,322 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $10.07, for a total value of $406,042.54. Following the sale, the chief executive officer now directly owns 4,022,055 shares in the company, valued at approximately $40,502,093.85. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 275,880 shares of company stock worth $4,034,037. Company insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Arrowhead Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Arrowhead Pharmaceuticals by 297.6% during the first quarter. GAMMA Investing LLC now owns 2,175 shares of the biotechnology company's stock valued at $28,000 after buying an additional 1,628 shares during the period. R Squared Ltd bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $38,000. GF Fund Management CO. LTD. bought a new stake in shares of Arrowhead Pharmaceuticals during the fourth quarter valued at about $49,000. Van ECK Associates Corp increased its position in shares of Arrowhead Pharmaceuticals by 72.3% during the fourth quarter. Van ECK Associates Corp now owns 2,978 shares of the biotechnology company's stock valued at $56,000 after buying an additional 1,250 shares during the period. Finally, CWM LLC increased its position in shares of Arrowhead Pharmaceuticals by 134.3% during the first quarter. CWM LLC now owns 4,401 shares of the biotechnology company's stock valued at $56,000 after buying an additional 2,523 shares during the period. 62.61% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Stock Performance

The company has a 50-day moving average price of $13.30 and a two-hundred day moving average price of $17.79. The stock has a market capitalization of $2.17 billion, a P/E ratio of -3.04 and a beta of 0.89. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

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.