Arrowhead Pharmaceuticals (NASDAQ:ARWR) Announces Quarterly Earnings Results, Misses Expectations By $0.97 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR - Get Free Report) announced its quarterly earnings data on Monday. The biotechnology company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.97), Zacks reports.

Arrowhead Pharmaceuticals Stock Performance

Shares of NASDAQ:ARWR traded up $0.54 during trading on Thursday, hitting $19.11. The stock had a trading volume of 1,257,048 shares, compared to its average volume of 2,316,698. The stock has a 50-day simple moving average of $20.08 and a two-hundred day simple moving average of $21.22. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -3.81 and a beta of 0.95. Arrowhead Pharmaceuticals has a 12-month low of $17.05 and a 12-month high of $36.72. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insider Activity at Arrowhead Pharmaceuticals

In other Arrowhead Pharmaceuticals news, Director William D. Waddill sold 3,748 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $21.90, for a total transaction of $82,081.20. Following the sale, the director now directly owns 44,125 shares of the company's stock, valued at approximately $966,337.50. This trade represents a 7.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Richard Anzalone sold 26,712 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.24, for a total value of $567,362.88. Following the completion of the transaction, the chief executive officer now directly owns 3,688,335 shares of the company's stock, valued at approximately $78,340,235.40. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,432 shares of company stock worth $2,957,986 over the last quarter. Insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research report on Tuesday. Citigroup dropped their price objective on shares of Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Sanford C. Bernstein cut their price target on Arrowhead Pharmaceuticals from $27.00 to $24.00 and set a "market perform" rating on the stock in a report on Friday, November 29th. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a research report on Friday, December 20th. Finally, Piper Sandler reduced their price objective on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, November 27th. One equities research 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, the company currently has a consensus rating of "Hold" and an average target price of $43.33.

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.