Arrowhead Pharmaceuticals (NASDAQ:ARWR) Issues Earnings Results, Misses Expectations By $0.80 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) announced its quarterly earnings results on Thursday. The biotechnology company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.80), Briefing.com reports. Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. Arrowhead Pharmaceuticals’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.96) earnings per share.

Arrowhead Pharmaceuticals Trading Down 9.4 %

Arrowhead Pharmaceuticals stock traded down $2.44 during midday trading on Friday, hitting $23.41. The stock had a trading volume of 2,926,652 shares, compared to its average volume of 1,273,763. The firm’s fifty day moving average is $26.33 and its two-hundred day moving average is $27.20. The company has a market capitalization of $2.91 billion, a PE ratio of -5.51 and a beta of 0.94. Arrowhead Pharmaceuticals has a 52-week low of $20.67 and a 52-week high of $39.83.

Insider Buying and Selling

In related news, insider Tracie Oliver sold 9,394 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.28, for a total value of $237,480.32. Following the completion of the sale, the insider now directly owns 127,107 shares of the company’s stock, valued at approximately $3,213,264.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ARWR has been the subject of several recent research reports. StockNews.com raised Arrowhead Pharmaceuticals to a “sell” rating in a research report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, June 5th. They set a “neutral” rating and a $31.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Thursday, June 20th. Chardan Capital restated a “buy” rating and set a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, July 17th. Finally, Morgan Stanley lowered their price objective on shares of Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.71.

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.