Arrowhead Pharmaceuticals (NASDAQ:ARWR) Releases Earnings Results, Misses Expectations By $1.48 EPS

Key Points

• Arrowhead Pharmaceuticals reported a quarterly loss of $3.00 per share, missing analyst expectations of a $1.52 loss by $1.48; revenue of $37.79 million also fell short of the $61.18 million consensus.
• Shares traded down $2.21 to $47.15 during Thursday’s midday session. Despite the earnings miss, analysts’ consensus rating was “Moderate Buy,” with an average price target of $99.07.
• Two company directors reported selling shares in August: Adeoye Olukotun sold 2,000 shares and Michael Perry sold 11,600 shares.

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) released its quarterly earnings data on Thursday. The biotechnology company reported ($3.00) earnings per share for the quarter, missing analysts' consensus estimates of ($1.52) by ($1.48), FiscalAI reports. The firm had revenue of $37.79 million during the quarter, compared to analyst estimates of $61.18 million. Arrowhead Pharmaceuticals had a negative return on equity of 60.06% and a negative net margin of 47.79%.

Arrowhead Pharmaceuticals Price Performance

Shares of ARWR stock traded down $2.21 during midday trading on Thursday, reaching $47.15. 2,154,199 shares of the company were exchanged, compared to its average volume of 2,256,433. The company's 50 day moving average price is $64.86 and its two-hundred day moving average price is $71.20. The company has a market cap of $6.64 billion, a P/E ratio of -20.96 and a beta of 1.34. Arrowhead Pharmaceuticals has a 12 month low of $37.06 and a 12 month high of $95.49. The company has a debt-to-equity ratio of 1.77, a quick ratio of 5.90 and a current ratio of 5.90.

Wall Street Analyst Weigh In

Several brokerages have commented on ARWR. HC Wainwright restated a "buy" rating and issued a $120.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, October 15th. UBS Group began coverage on Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. They set a "buy" rating and a $109.00 price objective for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Monday, August 31st. Chardan Capital restated a "buy" rating and issued a $115.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Thursday, October 15th. Finally, Citigroup assumed coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, September 8th. They set a "buy" rating and a $108.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $99.07.

Insider Activity at Arrowhead Pharmaceuticals

In other news, Director Adeoye Olukotun sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $86.96, for a total value of $173,920.00. Following the completion of the transaction, the director directly owned 31,600 shares in the company, valued at $2,747,936. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Perry sold 11,600 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $87.30, for a total transaction of $1,012,680.00. Following the transaction, the director owned 111,459 shares in the company, valued at $9,730,370.70. This represents a 9.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company's stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals is a biotechnology company that develops medicines using RNA interference (RNAi), a biological process that can reduce the production of specific proteins by silencing the genes that encode them. Its proprietary Targeted RNAi Molecule (TRiM) platform is designed to deliver RNAi treatments to targeted tissues. The company's research and development programs address a range of conditions, including liver, cardiometabolic, pulmonary and neurological diseases. Its work centers on investigational medicines and drug-development partnerships.

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