Arrowhead Pharmaceuticals (NASDAQ:ARWR) Posts Earnings Results, Misses Expectations By $0.13 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) released its quarterly earnings data on Monday. The biotechnology company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.13), Bloomberg Earnings reports. Arrowhead Pharmaceuticals had a net margin of 10.09% and a return on equity of 6.72%. The business had revenue of $42.70 million during the quarter, compared to analyst estimates of $59.05 million.

NASDAQ:ARWR traded up $1.15 during mid-day trading on Tuesday, hitting $28.39. 1,166,454 shares of the stock were exchanged, compared to its average volume of 1,028,501. The stock has a market cap of $2.76 billion, a PE ratio of -43.68 and a beta of 1.59. The stock’s 50-day moving average price is $27.95. Arrowhead Pharmaceuticals has a fifty-two week low of $10.41 and a fifty-two week high of $30.73.

A number of analysts have recently issued reports on ARWR shares. BidaskClub raised Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 19th. B. Riley raised their price objective on Arrowhead Pharmaceuticals from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Piper Jaffray Companies raised their price objective on Arrowhead Pharmaceuticals from $25.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. TheStreet raised Arrowhead Pharmaceuticals from a “d” rating to a “c+” rating in a research report on Thursday, May 30th. Finally, ValuEngine cut Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.50.

In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 27,071 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $22.00, for a total value of $595,562.00. Following the completion of the transaction, the chief financial officer now directly owns 278,536 shares of the company’s stock, valued at approximately $6,127,792. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Patrick O’brien sold 30,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $24.88, for a total value of $746,400.00. Following the completion of the transaction, the general counsel now owns 203,000 shares in the company, valued at approximately $5,050,640. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,827 shares of company stock valued at $1,832,205. 4.80% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new stake in shares of Arrowhead Pharmaceuticals in the 2nd quarter valued at approximately $34,000. Mascoma Wealth Management LLC purchased a new stake in Arrowhead Pharmaceuticals in the 2nd quarter valued at $46,000. First Quadrant L P CA boosted its stake in shares of Arrowhead Pharmaceuticals by 831.4% during the 1st quarter. First Quadrant L P CA now owns 3,353 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 2,993 shares during the period. Advisor Group Inc. lifted its holdings in Arrowhead Pharmaceuticals by 73.4% during the 4th quarter. Advisor Group Inc. now owns 8,670 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 3,670 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Arrowhead Pharmaceuticals during the 4th quarter worth $130,000. Institutional investors and hedge funds own 62.63% of the company’s stock.

Arrowhead Pharmaceuticals Company Profile

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's pipeline include ARO-AAT, a RNA interference (RNAi) therapeutic candidate for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3 to treat hypertriglyceridemia; ARO-ANG3 to reduce production of angiopoietin-like protein 3; ARO-ENaC to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; and ARO-HIF2 for the treatment of clear cell renal cell carcinoma.

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Earnings History for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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