Arrowhead Pharmaceuticals (ARWR) to Release Quarterly Earnings on Thursday

Arrowhead Pharmaceuticals (NASDAQ:ARWR) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.06) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.46). Arrowhead Pharmaceuticals had a negative return on equity of 90.77% and a negative net margin of 163.32%. The firm had revenue of $3.55 million for the quarter, compared to analysts’ expectations of $35.60 million. During the same quarter last year, the firm posted ($0.39) earnings per share. The firm’s revenue for the quarter was down 94.3% compared to the same quarter last year. On average, analysts expect Arrowhead Pharmaceuticals to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Arrowhead Pharmaceuticals Stock Performance

Arrowhead Pharmaceuticals stock opened at $23.17 on Thursday. Arrowhead Pharmaceuticals has a fifty-two week low of $20.67 and a fifty-two week high of $42.48. The stock has a market cap of $2.87 billion, a PE ratio of -8.33 and a beta of 0.71. The firm’s 50-day simple moving average is $27.72 and its 200 day simple moving average is $28.80.

Analyst Ratings Changes

ARWR has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, February 8th. Citigroup boosted their target price on shares of Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 7th. Finally, Morgan Stanley boosted their target price on shares of Arrowhead Pharmaceuticals from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.80.

Insider Activity

In other news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total value of $1,407,600.00. Following the sale, the chief financial officer now owns 400,600 shares of the company’s stock, valued at $14,097,114. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total transaction of $1,407,600.00. Following the sale, the chief financial officer now owns 400,600 shares of the company’s stock, valued at approximately $14,097,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hongbo Lu bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased at an average cost of $27.50 per share, for a total transaction of $27,500.00. Following the acquisition, the director now directly owns 33,680 shares in the company, valued at approximately $926,200. The disclosure for this purchase can be found here. Insiders own 4.50% of the company’s stock.

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.