Arrowhead Pharmaceuticals (NASDAQ:ARWR) Releases Earnings Results, Misses Estimates By $0.97 EPS

Arrowhead Pharmaceuticals (NASDAQ:ARWR) announced its quarterly earnings results on Monday. The biotechnology company reported ($1.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.97), Zacks reports.

Arrowhead Pharmaceuticals Price Performance

ARWR opened at $19.92 on Tuesday. Arrowhead Pharmaceuticals has a 1-year low of $17.05 and a 1-year high of $36.72. The company has a 50 day simple moving average of $20.37 and a two-hundred day simple moving average of $21.32. The company has a current ratio of 6.74, a quick ratio of 6.74 and a debt-to-equity ratio of 2.06.

Insiders Place Their Bets

In related news, COO Patrick O’brien sold 29,184 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $578,426.88. Following the completion of the transaction, the chief operating officer now owns 535,201 shares in the company, valued at approximately $10,607,683.82. This represents a 5.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James C. Hamilton sold 32,729 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $19.82, for a total transaction of $648,688.78. Following the transaction, the insider now owns 272,122 shares of the company’s stock, valued at $5,393,458.04. This trade represents a 10.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,432 shares of company stock worth $2,957,986 over the last three months. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARWR. Citigroup lowered their target price 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. Chardan Capital restated a “buy” rating and set a $60.00 price objective on shares of Arrowhead Pharmaceuticals in a research report on Thursday, December 12th. StockNews.com raised shares of Arrowhead Pharmaceuticals to a “sell” rating in a report on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Arrowhead Pharmaceuticals in a report on Thursday, January 23rd. Finally, Piper Sandler cut their price target on shares of Arrowhead Pharmaceuticals from $62.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.33.

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.