Arrowhead Pharma Down 18.32% To $23.67 After Earnings Miss

Arrowhead Pharma (ARWR) said after close Wednesday that it lost $1.02 per share in quarter four 2023.

On the revenue line, the company reported $16.1 million, missing estimates by $34.6 million.

In the same quarter a year ago, the company lost $0.81 per share on revenue of $31.6 million.

The stock is down 18.32% to $23.67 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Arrowhead Pharma has performed a little below average during the past few months. Before the report, Arrowhead Pharma received a Long-Term Technical Rank by InvestorsObserver of 41, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $22.87 on October 31, 2023 and set a 52-week high on May 5, 2023 at $42.48.

Arrowhead Pharmaceuticals Inc is an American biotechnology company. Its main target is the development of medicine to treat diseases with a genetic origin, characterized by the overproduction of one or more proteins. Its medical solutions are aimed at the genes that trigger the diseases. Its portfolio includes drugs targeting hepatitis B, Alpha-1 Antitrypsin Deficiency, thrombosis and angioedema, clear-cell and renal cell carcinoma, and cardiovascular disease.