$7.32 Million in Sales Expected for Arrowhead Pharmaceuticals, Inc. (ARWR) This Quarter
Analysts predict that Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) will report $7.32 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Arrowhead Pharmaceuticals’ earnings, with the highest sales estimate coming in at $8.00 million and the lowest estimate coming in at $6.63 million. Arrowhead Pharmaceuticals posted sales of $30,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 24,300%. The business is expected to issue its next quarterly earnings results on Wednesday, December 13th.
According to Zacks, analysts expect that Arrowhead Pharmaceuticals will report full year sales of $7.32 million for the current year, with estimates ranging from $29.32 million to $35.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $11.75 million per share, with estimates ranging from $8.50 million to $15.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts 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 Zacks’ consensus estimate of ($0.13) by $0.06. Arrowhead Pharmaceuticals had a negative return on equity of 46.73% and a negative net margin of 201.84%. The firm had revenue of $9.34 million for the quarter, compared to the consensus estimate of $5.29 million.
A number of research analysts have recently issued reports on ARWR shares. Jefferies Group LLC reiterated a “hold” rating and issued a $2.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, August 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $2.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Friday, July 28th. Finally, ValuEngine upgraded shares of Arrowhead Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $1.80.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LMR Partners LLP bought a new position in Arrowhead Pharmaceuticals during the second quarter valued at $467,000. Wells Fargo & Company MN boosted its position in Arrowhead Pharmaceuticals by 144.8% in the first quarter. Wells Fargo & Company MN now owns 150,346 shares of the biotechnology company’s stock valued at $278,000 after buying an additional 88,933 shares during the period. SG Americas Securities LLC boosted its position in Arrowhead Pharmaceuticals by 287.9% in the first quarter. SG Americas Securities LLC now owns 100,747 shares of the biotechnology company’s stock valued at $186,000 after buying an additional 74,776 shares during the period. UBS Asset Management Americas Inc. boosted its position in 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 valued at $123,000 after buying an additional 53,500 shares during the period. Finally, Virtu KCG Holdings LLC boosted its position in Arrowhead Pharmaceuticals by 115.6% in the second quarter. Virtu KCG Holdings LLC now owns 99,267 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 53,215 shares during the period. Hedge funds and other institutional investors own 29.89% of the company’s stock.
Shares of Arrowhead Pharmaceuticals (NASDAQ ARWR) opened at 2.58 on Friday. The stock’s market capitalization is $192.91 million. Arrowhead Pharmaceuticals has a 1-year low of $1.20 and a 1-year high of $8.09. The company has a 50 day moving average price of $1.82 and a 200-day moving average price of $1.79.
About Arrowhead Pharmaceuticals
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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