Brokerages Anticipate Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) Will Post Quarterly Sales of $140.15 Million

Wall Street analysts expect Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWRGet Rating) to announce sales of $140.15 million for the current quarter, Zacks reports. Six analysts have issued estimates for Arrowhead Pharmaceuticals’ earnings, with the highest sales estimate coming in at $314.90 million and the lowest estimate coming in at $25.00 million. Arrowhead Pharmaceuticals reported sales of $32.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 327.2%. The company is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arrowhead Pharmaceuticals will report full-year sales of $275.01 million for the current financial year, with estimates ranging from $140.40 million to $612.00 million. For the next financial year, analysts expect that the business will report sales of $294.00 million, with estimates ranging from $63.60 million to $566.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Arrowhead Pharmaceuticals.

Arrowhead Pharmaceuticals (NASDAQ:ARWRGet Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The biotechnology company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.38). Arrowhead Pharmaceuticals had a negative net margin of 126.70% and a negative return on equity of 43.99%. The company had revenue of $27.44 million for the quarter, compared to analysts’ expectations of $67.30 million. During the same period in the previous year, the firm posted ($0.20) earnings per share.

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arrowhead Pharmaceuticals in a research report on Friday, April 1st. The Goldman Sachs Group upgraded shares of Arrowhead Pharmaceuticals from a “neutral” rating to a “buy” rating in a report on Wednesday, January 19th. StockNews.com initiated coverage on shares of Arrowhead Pharmaceuticals in a report on Thursday, March 31st. They set a “hold” rating on the stock. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Arrowhead Pharmaceuticals in a report on Wednesday, March 23rd. Finally, SVB Leerink dropped their price objective on shares of Arrowhead Pharmaceuticals from $46.00 to $36.00 and set a “market perform” rating on the stock in a report on Thursday, February 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $82.80.

Shares of Arrowhead Pharmaceuticals stock traded up $0.98 during midday trading on Friday, reaching $45.31. The company had a trading volume of 3,333 shares, compared to its average volume of 722,414. Arrowhead Pharmaceuticals has a 1-year low of $38.89 and a 1-year high of $93.66. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -25.70 and a beta of 1.37. The stock has a fifty day simple moving average of $46.00 and a 200 day simple moving average of $58.27.

In other news, CEO Christopher Richard Anzalone sold 146,388 shares of Arrowhead Pharmaceuticals stock in a transaction dated Friday, February 11th. The shares were sold at an average price of $51.91, for a total value of $7,599,001.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson & Johnson bought a new stake in shares of Arrowhead Pharmaceuticals during the 3rd quarter valued at $203,576,000. Alliancebernstein L.P. increased its position in shares of Arrowhead Pharmaceuticals by 154.0% during the 4th quarter. Alliancebernstein L.P. now owns 2,464,511 shares of the biotechnology company’s stock valued at $163,397,000 after purchasing an additional 1,494,218 shares during the last quarter. Norges Bank purchased a new stake in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $45,802,000. Farallon Capital Management LLC increased its holdings in Arrowhead Pharmaceuticals by 118.2% in the 3rd quarter. Farallon Capital Management LLC now owns 796,578 shares of the biotechnology company’s stock worth $49,730,000 after acquiring an additional 431,578 shares in the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in Arrowhead Pharmaceuticals in the 4th quarter worth approximately $13,766,000. 63.20% of the stock is currently owned by institutional investors.

Arrowhead Pharmaceuticals Company Profile (Get Rating)

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. The company's products in pipeline includes ARO-AAT, a RNA interference (RNAi) therapeutic candidate that is in Phase II clinical trial for the treatment of liver diseases associated with alpha-1 antitrypsin deficiency; ARO-APOC3, which is in phase 2b and one phase 3 clinical trial to treat hypertriglyceridemia; ARO-ANG3 that is in Phase 2b clinical trial to reduce production of angiopoietin-like protein 3; ARO-HSD, which is in Phase 1/2a clinical trial to treat liver diseases; ARO-ENaC, which is in a Phase 1/2a clinical trial to reduce production of the epithelial sodium channel alpha subunit in the airways of the lung; ARO-C3 for the treatment of complement-mediated disease that is in Phase 1/2a clinical trial; ARO-Lung2 for the treatment of chronic obstructive pulmonary disorder; ARO-DUX4 for the treatment of facioscapulohumeral muscular dystrophy; ARO-XDH to treat uncontrolled gout; ARO-COV for the treatment of COVID-19 and other pulmonary-borne pathogens; and ARO-HIF2, which is in phase 1b clinical trial to treat clear cell renal cell carcinoma.

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