Zacks: Analysts Expect Arrowhead Pharmaceuticals (ARWR) Will Post Earnings of -$0.19 Per Share

Wall Street brokerages forecast that Arrowhead Pharmaceuticals (NASDAQ:ARWR) will announce ($0.19) earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for Arrowhead Pharmaceuticals’ earnings, with estimates ranging from ($0.21) to ($0.18). Arrowhead Pharmaceuticals posted earnings per share of ($0.07) during the same quarter last year, which indicates a negative year over year growth rate of 171.4%. The company is scheduled to announce its next earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Arrowhead Pharmaceuticals will report full-year earnings of ($0.73) per share for the current fiscal year, with EPS estimates ranging from ($0.78) to ($0.66). For the next financial year, analysts forecast that the business will post earnings of ($0.50) per share, with EPS estimates ranging from ($0.92) to $0.89. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Arrowhead Pharmaceuticals.

Arrowhead Pharmaceuticals (NASDAQ:ARWR) last announced its earnings results on Tuesday, May 8th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. The company had revenue of $0.65 million during the quarter, compared to the consensus estimate of $4.04 million. Arrowhead Pharmaceuticals had a negative return on equity of 50.05% and a negative net margin of 199.55%.

ARWR has been the subject of several recent analyst reports. BidaskClub downgraded Arrowhead Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 10th. ValuEngine upgraded Arrowhead Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Jefferies Group initiated coverage on Arrowhead Pharmaceuticals in a research note on Tuesday, March 27th. They set a “buy” rating and a $10.00 target price for the company. Chardan Capital restated a “buy” rating and set a $7.00 target price on shares of Arrowhead Pharmaceuticals in a research note on Monday, February 19th. Finally, B. Riley raised their target price on Arrowhead Pharmaceuticals from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.00.

In other news, COO Bruce D. Given sold 20,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $6.73, for a total transaction of $134,600.00. Following the transaction, the chief operating officer now owns 908,356 shares of the company’s stock, valued at $6,113,235.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Richard Anzalone sold 300,000 shares of the stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $7.43, for a total transaction of $2,229,000.00. Following the transaction, the chief executive officer now directly owns 2,194,789 shares in the company, valued at approximately $16,307,282.27. The disclosure for this sale can be found here. Insiders have sold 465,000 shares of company stock worth $3,432,350 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantitative Systematic Strategies LLC bought a new position in Arrowhead Pharmaceuticals in the first quarter worth about $100,000. Vanguard Capital Wealth Advisors bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth about $119,000. Macquarie Group Ltd. bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth about $123,000. Jane Street Group LLC bought a new position in Arrowhead Pharmaceuticals in the fourth quarter worth about $130,000. Finally, Trexquant Investment LP bought a new position in Arrowhead Pharmaceuticals in the first quarter worth about $139,000. 28.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Arrowhead Pharmaceuticals traded up $0.02, hitting $9.53, during trading hours on Thursday, Marketbeat.com reports. 971,514 shares of the company’s stock traded hands, compared to its average volume of 1,749,179. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.16 and a quick ratio of 10.16. The company has a market capitalization of $840.74 million, a PE ratio of -20.28 and a beta of 2.41. Arrowhead Pharmaceuticals has a twelve month low of $9.36 and a twelve month high of $9.61.

About Arrowhead Pharmaceuticals

Arrowhead Pharmaceuticals, Inc develops medicines for the treatment of intractable diseases in the United States. Its pre-clinical stage medicines include ARO-HBV to treat chronic hepatitis B virus infection; ARO-AAT for the treatment of liver disease associated with alpha-1 antitrypsin deficiency; ARO-APOC3 and ARO-ANG3 to treat hypertriglyceridemia; ARO-Lung1 for the treatment of an undisclosed pulmonary target; ARO-HIF2 to treat renal cell carcinoma; ARO-F12 for hereditary angioedema and thromboembolic disorders; and ARO-AMG1 for the treatment of an undisclosed genetically validated cardiovascular target.

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Earnings History and Estimates for Arrowhead Pharmaceuticals (NASDAQ:ARWR)

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