$7.98 Million in Sales Expected for Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) This Quarter
Equities analysts predict that Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) will post sales of $7.98 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Arrowhead Pharmaceuticals’ earnings, with the highest sales estimate coming in at $9.31 million and the lowest estimate coming in at $6.63 million. Arrowhead Pharmaceuticals reported sales of $30,000.00 during the same quarter last year, which indicates a positive year-over-year growth rate of 26,500%. The business is scheduled to issue its next quarterly earnings results on Wednesday, December 13th.
On average, analysts expect that Arrowhead Pharmaceuticals will report full year sales of $7.98 million for the current financial year, with estimates ranging from $13.50 million to $32.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $14.50 million per share, with estimates ranging from $8.50 million to $20.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Arrowhead Pharmaceuticals.
Arrowhead Pharmaceuticals (NASDAQ:ARWR) last posted its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $9.34 million during the quarter, compared to analyst estimates of $5.29 million. Arrowhead Pharmaceuticals had a negative net margin of 201.84% and a negative return on equity of 46.73%.
ARWR has been the subject of a number of recent research reports. Jefferies Group LLC restated a “hold” rating and set a $2.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, April 12th. ValuEngine downgraded Arrowhead Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $2.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Arrowhead Pharmaceuticals has an average rating of “Hold” and a consensus target price of $1.80.
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Several hedge funds and other institutional investors have recently made changes to their positions in ARWR. LMR Partners LLP bought a new position in shares of Arrowhead Pharmaceuticals during the second quarter worth about $467,000. Geode Capital Management LLC increased its position in shares of Arrowhead Pharmaceuticals by 3.4% in the first quarter. Geode Capital Management LLC now owns 663,062 shares of the biotechnology company’s stock worth $1,226,000 after buying an additional 21,654 shares during the period. SG Americas Securities LLC increased its position in shares of Arrowhead Pharmaceuticals by 287.9% in the first quarter. SG Americas Securities LLC now owns 100,747 shares of the biotechnology company’s stock worth $186,000 after buying an additional 74,776 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Arrowhead Pharmaceuticals by 414.7% in the first quarter. UBS Asset Management Americas Inc. now owns 66,400 shares of the biotechnology company’s stock worth $123,000 after buying an additional 53,500 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Arrowhead Pharmaceuticals by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 314,034 shares of the biotechnology company’s stock worth $581,000 after buying an additional 11,099 shares during the period. Institutional investors own 30.13% of the company’s stock.
Shares of Arrowhead Pharmaceuticals (ARWR) opened at 1.92 on Wednesday. The stock’s market capitalization is $143.56 million. Arrowhead Pharmaceuticals has a 12-month low of $1.20 and a 12-month high of $8.22. The firm’s 50-day moving average is $1.63 and its 200 day moving average is $1.76.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc, formerly Arrowhead Research Corporation, develops medicines that treat intractable diseases by silencing the genes that cause them. Using a portfolio of ribonucleic acid (RNA) chemistries and modes of delivery, the Company’s therapies trigger the RNA interference mechanism to induce knockdown of target genes.
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