Arrowhead Pharmaceuticals (NASDAQ:ARWR) Releases Earnings Results

Arrowhead Pharmaceuticals (NASDAQ:ARWR) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.07, FiscalAI reports. The company had revenue of $256.47 million for the quarter, compared to analysts’ expectations of $147.53 million.

Arrowhead Pharmaceuticals Trading Up 5.7%

NASDAQ ARWR traded up $2.53 on Tuesday, reaching $46.79. The stock had a trading volume of 2,658,008 shares, compared to its average volume of 2,055,648. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $37.26 and a two-hundred day moving average price of $24.94. Arrowhead Pharmaceuticals has a 12-month low of $9.57 and a 12-month high of $46.92. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of -36.55 and a beta of 1.27.

Insider Activity at Arrowhead Pharmaceuticals

In other news, insider James C. Hamilton sold 20,000 shares of Arrowhead Pharmaceuticals stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the completion of the sale, the insider directly owned 212,122 shares of the company’s stock, valued at approximately $7,424,270. The trade was a 8.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 50,000 shares of company stock worth $1,525,000 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Arrowhead Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new stake in shares of Arrowhead Pharmaceuticals during the third quarter worth about $444,000. Keystone Financial Group acquired a new stake in shares of Arrowhead Pharmaceuticals in the third quarter valued at $276,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Arrowhead Pharmaceuticals by 11.7% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 129,958 shares of the biotechnology company’s stock valued at $4,389,000 after buying an additional 13,653 shares during the period. Woodline Partners LP lifted its stake in Arrowhead Pharmaceuticals by 34.0% in the third quarter. Woodline Partners LP now owns 1,000,158 shares of the biotechnology company’s stock worth $34,495,000 after acquiring an additional 254,002 shares during the last quarter. Finally, Virtus Advisers LLC grew its stake in shares of Arrowhead Pharmaceuticals by 581.5% during the third quarter. Virtus Advisers LLC now owns 14,462 shares of the biotechnology company’s stock worth $499,000 after purchasing an additional 12,340 shares in the last quarter. 62.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. B. Riley upgraded shares of Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, August 11th. TD Cowen upgraded Arrowhead Pharmaceuticals to a “strong-buy” rating in a report on Monday, July 28th. Chardan Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, November 19th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.22.

Arrowhead Pharmaceuticals Company Profile

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.