Arrowhead Pharmaceuticals (NASDAQ:ARWR) Posts Quarterly Earnings Results, Misses Estimates By $0.97 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) released its quarterly earnings data on Monday. The biotechnology company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.97), Zacks reports.

Arrowhead Pharmaceuticals Trading Down 5.2 %

Arrowhead Pharmaceuticals stock opened at $18.89 on Wednesday. Arrowhead Pharmaceuticals has a 1 year low of $17.05 and a 1 year high of $36.72. The firm’s 50-day moving average is $20.23 and its 200-day moving average is $21.25. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. The company has a market cap of $2.36 billion, a P/E ratio of -3.76 and a beta of 0.95.

Analyst Upgrades and Downgrades

ARWR has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Arrowhead Pharmaceuticals in a report on Tuesday. Sanford C. Bernstein lowered their price objective on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. StockNews.com upgraded Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. Piper Sandler reduced their price objective on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.33.

Insider Activity at Arrowhead Pharmaceuticals

In related news, Director Adeoye Y. Olukotun sold 2,850 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $20.00, for a total value of $57,000.00. Following the sale, the director now owns 36,740 shares of the company’s stock, valued at approximately $734,800. This trade represents a 7.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $19.82, for a total transaction of $648,688.78. Following the transaction, the insider now owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,432 shares of company stock valued at $2,957,986 in the last quarter. Insiders own 4.30% 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.