Arrowhead Pharmaceuticals (NASDAQ:ARWR) Issues Quarterly Earnings Results

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

Arrowhead Pharmaceuticals Stock Performance

Shares of ARWR traded up $0.54 during mid-day trading on Thursday, reaching $19.11. 1,257,048 shares of the company's stock traded hands, compared to its average volume of 2,316,698. The business's 50-day moving average price is $20.08 and its 200-day moving average price is $21.22. The stock has a market capitalization of $2.39 billion, a P/E ratio of -3.81 and a beta of 0.95. The company has a debt-to-equity ratio of 2.06, a quick ratio of 6.74 and a current ratio of 6.74. Arrowhead Pharmaceuticals has a 12 month low of $17.05 and a 12 month high of $36.72.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARWR. StockNews.com raised Arrowhead Pharmaceuticals to a "sell" rating in a research note on Friday, December 20th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Tuesday. Citigroup cut their target price on Arrowhead Pharmaceuticals from $27.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. Piper Sandler cut their target price on Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday. One 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 MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.33.

Insider Activity

In related news, Director William D. Waddill sold 3,748 shares of the business's stock in a transaction that occurred on 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 owns 44,125 shares of the company's stock, valued at $966,337.50. The trade was a 7.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James C. Hamilton sold 32,729 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $19.82, for a total value of $648,688.78. Following the sale, the insider now directly owns 272,122 shares in the company, valued at approximately $5,393,458.04. The trade was a 10.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,432 shares of company stock valued at $2,957,986. Insiders own 4.30% of the company's stock.

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.