Arrowhead Pharmaceuticals (NASDAQ:ARWR) Issues Earnings Results, Beats Estimates By $2.81 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) announced its earnings results on Monday. The biotechnology company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $2.81, Zacks reports.

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR traded up $0.94 during mid-day trading on Monday, hitting $13.97. 2,055,549 shares of the company’s stock were exchanged, compared to its average volume of 1,461,880. Arrowhead Pharmaceuticals has a 52 week low of $9.57 and a 52 week high of $30.41. The stock’s 50-day simple moving average is $13.44 and its 200-day simple moving average is $17.95. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -2.70 and a beta of 0.89. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 7.27.

Analysts Set New Price Targets

ARWR has been the subject of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. Chardan Capital reiterated a “buy” rating and issued a $60.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Wednesday, February 12th. Finally, B. Riley reiterated a “buy” rating and issued a $38.00 target price (down from $51.00) on shares of Arrowhead Pharmaceuticals in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $41.44.

Insider Transactions at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, CEO Christopher Richard Anzalone sold 40,322 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $10.07, for a total value of $406,042.54. Following the sale, the chief executive officer now owns 4,022,055 shares in the company, valued at $40,502,093.85. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 275,880 shares of company stock valued at $4,034,037. 4.30% of the stock is currently owned by company insiders.

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.