Arrowhead Pharmaceuticals (NASDAQ:ARWR) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.17), Briefing.com reports. The company had revenue of $32.41 million during the quarter, compared to analysts’ expectations of $52.61 million. Arrowhead Pharmaceuticals had a negative return on equity of 37.43% and a negative net margin of 61.58%. The company’s quarterly revenue was down 29.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) EPS.

Arrowhead Pharmaceuticals Price Performance

NASDAQ ARWR traded down $0.17 during trading on Friday, reaching $45.96. 1,230,544 shares of the company’s stock traded hands, compared to its average volume of 692,773. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of -31.05 and a beta of 1.37. The company’s 50 day simple moving average is $37.32 and its two-hundred day simple moving average is $41.91. Arrowhead Pharmaceuticals has a 12-month low of $26.81 and a 12-month high of $84.83.

Institutional Trading of Arrowhead Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Arrowhead Pharmaceuticals by 94.6% in the 1st quarter. Advisors Asset Management Inc. now owns 720 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 350 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Arrowhead Pharmaceuticals by 37.3% in the 1st quarter. Lazard Asset Management LLC now owns 1,927 shares of the biotechnology company’s stock valued at $87,000 after buying an additional 524 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at about $107,000. Canada Pension Plan Investment Board bought a new stake in shares of Arrowhead Pharmaceuticals in the 1st quarter valued at about $235,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Arrowhead Pharmaceuticals in the 1st quarter worth approximately $286,000. 64.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on ARWR shares. The Goldman Sachs Group reduced their price target on shares of Arrowhead Pharmaceuticals from $90.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th. StockNews.com raised shares of Arrowhead Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, May 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Thursday, July 14th. Chardan Capital raised their price target on shares of Arrowhead Pharmaceuticals from $80.00 to $82.00 in a research note on Friday. Finally, Piper Sandler cut their target price on shares of Arrowhead Pharmaceuticals from $89.00 to $72.00 in a research report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.00.

About Arrowhead Pharmaceuticals

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Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in Phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in Phase 2b clinical trial to reduce production of angiopoietin-like protein 3; ARO-HSD, which is in Phase 1/2a clinical trial to treat liver diseases; ARO-ENaC, which is in a Phase 1/2a clinical trial to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; ARO-C3 for the treatment of complement-mediated disease that is in Phase 1/2a clinical trial; ARO-Lung2 for the treatment of chronic obstructive pulmonary disorder; ARO-DUX4 for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH to treat uncontrolled gout; ARO-COV for the treatment of COVID-19 and other pulmonary-borne pathogens; and ARO-HIF2, which is in phase 1b clinical trial to treat clear cell renal cell carcinoma.

See Also

Earnings History for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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