Arrowhead Pharmaceuticals (NASDAQ:ARWR) Announces Quarterly Earnings Results

Arrowhead Pharmaceuticals (NASDAQ:ARWR) announced its quarterly earnings results on Monday. The biotechnology company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $2.81, Zacks reports. The company had revenue of $542.71 million during the quarter, compared to analysts’ expectations of $116.27 million. During the same quarter in the prior year, the business posted ($1.02) earnings per share.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR opened at $15.28 on Wednesday. The stock has a 50-day moving average of $13.33 and a two-hundred day moving average of $17.89. Arrowhead Pharmaceuticals has a one year low of $9.57 and a one year high of $30.41. The company has a debt-to-equity ratio of 7.27, a quick ratio of 6.09 and a current ratio of 6.09. The stock has a market cap of $2.10 billion, a P/E ratio of -2.96 and a beta of 0.89.

Insiders Place Their Bets

In other news, CEO Christopher Richard Anzalone sold 51,425 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $15.07, for a total value of $774,974.75. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 275,880 shares of company stock valued at $4,034,037. 4.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Chardan Capital reiterated a “buy” rating and issued a $60.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. B. Riley reiterated a “buy” rating and issued a $38.00 price target (down from $51.00) on shares of Arrowhead Pharmaceuticals in a report on Friday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Arrowhead Pharmaceuticals in a report on Wednesday, February 12th. Finally, Citigroup lowered their price objective on Arrowhead Pharmaceuticals from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.13.

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.