Arrowhead Pharmaceuticals, Inc. (ARWR) Q4 2024 Earnings Call Transcript
Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR ) Q4 2024 Earnings Conference Call November 26, 2024 4:30 PM ET Company Participants Vince Anzalone - VP, IR Chris Anzalone - President & CEO Bruce Given - Interim Chief Medical Scientist Andy Davis - SVP & Head of Global Cardiometabolic Franchise James Hamilton - Chief Discovery & Translational Medicine Ken Myszkowski - CFO Conference Call Participants Jasmine Fels - UBS Luca Issi - RBC Capital Andrea Newkirk - Goldman Sachs Maury Raycroft - Jefferies Dina Ramadane - Bank of America Patrick Trucchio - H.C. Wainwright Edward Tenthoff - PSC Mayank Mamtani - B.
Arrowhead Pharmaceuticals Stock Climbs on Plans To Seek FDA Approval for New Drug
Shares of Arrowhead Pharmaceuticals (ARWR) gained Tuesday after the biotech firm announced positive results in a late-stage study of its experimental treatment for a rare metabolic disorder, and said it plans to request regulatory approval to market it.
Arrowhead Pharmaceuticals, Inc. (ARWR) 2024 Summer Series R&D Webinar: Obesity/Metabolic - ARO-INHBE Conference (Transcript)
Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR ) 2024 Summer Series R&D Webinar: Obesity/Metabolic - ARO-INHBE Conference August 14, 2024 2:00 PM ET Company Participants Vincent Anzalone - Vice President and Head of Investor Relations Dr. Carel Le Roux - Chair of Metabolic Medicine, University College Dublin Erik Bush - Senior Vice President, Biology Tao Pei - Senior Vice President, Discovery Chemistry James Hamilton - SVP, Discovery and Translational Medicine Operator Good afternoon, and welcome to the Arrowhead Summer Series of R&D Webinars Part 4. As a reminder, all participants are in a listen-only mode.
Panagora Asset Management Inc. Decreases Stock Holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR)
Panagora Asset Management Inc. lessened its holdings in Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Free Report) by 58.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,262 shares of the biotechnology company’s stock after selling 121,831 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.08% of Arrowhead Pharmaceuticals worth $2,609,000 at the end of the most recent quarter. Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Arrowhead Pharmaceuticals by 58.2% during the 3rd quarter. FMR LLC now owns 4,308,903 shares of the biotechnology company’s stock worth $115,780,000 after acquiring an additional 1,584,425 shares in the last quarter. Invesco Ltd. increased its stake in Arrowhead Pharmaceuticals by 9.6% in the third quarter. Invesco Ltd. now owns 2,443,038 shares of the biotechnology company’s stock valued at $65,644,000 after purchasing an additional 214,618 shares during the last quarter. Avidity Partners Management LP increased its stake in Arrowhead Pharmaceuticals by 15.0% in the third quarter. Avidity Partners Management LP now owns 1,063,897 shares of the biotechnology company’s stock valued at $28,587,000 after purchasing an additional 138,897 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in Arrowhead Pharmaceuticals by 3.0% during the third quarter. Eagle Asset Management Inc. now owns 497,474 shares of the biotechnology company’s stock worth $13,367,000 after purchasing an additional 14,499 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Arrowhead Pharmaceuticals by 11.7% during the 3rd quarter. UBS Group AG now owns 369,602 shares of the biotechnology company’s stock worth $9,931,000 after buying an additional 38,632 shares during the last quarter. 62.61% of the stock is currently owned by institutional investors and hedge funds. Wall Street Analyst Weigh In A number of research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Arrowhead Pharmaceuticals in a research report on Wednesday, February 7th. Morgan Stanley dropped their price objective on Arrowhead Pharmaceuticals from $36.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Arrowhead Pharmaceuticals in a report on Monday, May 13th. Chardan Capital restated a “buy” rating and set a $60.00 price target on shares of Arrowhead Pharmaceuticals in a research note on Friday, May 10th. Finally, Citigroup boosted their price objective on Arrowhead Pharmaceuticals from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.00. Read Our Latest Stock Analysis on Arrowhead Pharmaceuticals Insider Transactions at Arrowhead Pharmaceuticals In related news, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $23.31, for a total value of $41,934.69. Following the sale, the director now directly owns 30,205 shares in the company, valued at $704,078.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 40,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $35.19, for a total value of $1,407,600.00. Following the completion of the transaction, the chief financial officer now directly owns 400,600 shares of the company’s stock, valued at $14,097,114. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Victoria Vakiener sold 1,799 shares of Arrowhead Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $23.31, for a total transaction of $41,934.69. Following the sale, the director now owns 30,205 shares of the company’s stock, valued at $704,078.55. The disclosure for this sale can be found here. Company insiders own 4.50% of the company’s stock. Arrowhead Pharmaceuticals Stock Down 0.9 % Arrowhead Pharmaceuticals stock opened at $24.77 on Monday. Arrowhead Pharmaceuticals, Inc. has a twelve month low of $20.67 and a twelve month high of $39.83. The stock has a 50 day moving average of $25.47 and a two-hundred day moving average of $28.72. Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.96). Arrowhead Pharmaceuticals had a negative return on equity of 140.72% and a negative net margin of 163.32%. During the same quarter last year, the business earned $0.45 EPS. Arrowhead Pharmaceuticals’s revenue was down 100.0% compared to the same quarter last year. Analysts predict that Arrowhead Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year. Arrowhead Pharmaceuticals Profile (Free Report) 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.
Arrowhead Pharmaceuticals: Focus Turns To Upcoming Pipeline Inflection Point
The latest period was a rollercoaster ride for Arrowhead Pharmaceuticals despite significant fundamental developments. Phase 3 results of plozasiran in FCS patients should lead to Arrowhead finally becoming a commercial-stage company in 2025. The bar for plozasiran is set by Ionis' olezarsen in terms of APOC3 and triglyceride reductions as well as the reduction in the risk of acute pancreatitis.
