Arrowhead Pharmaceuticals, Inc.
- Open
- 84.42
- Day high
- 84.48
- Day low
- 76.18
- Prev close
- 84.00
- Volume
- 2.3M
- Mkt cap
- $10.8B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 17.6
- P/S
- 17.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.9M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Arrowhead Pharmaceuticals, Inc. (ARWR) is a Healthcare company listed on NASDAQ. The stock is up 345% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4).
Arrowhead Pharmaceuticals, Inc. (ARWR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ARWR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-1.18 | $-0.93 | +21.2% | $74M | -0.1% |
| Feb 5, 2026 | $0.60 | $0.22 | -63.3% | $264M | +296.7% |
| Nov 25, 2025 | $-0.11 | $-0.18 | -61.3% | $256M | +46.3% |
| Aug 7, 2025 | $-0.94 | $-1.26 | -34.0% | $28M | -82.0% |
| Nov 26, 2024 | $-1.05 | $-1.38 | -31.4% | $4M | -93.6% |
| Aug 8, 2024 | $-0.58 | $-1.38 | -137.9% | — | — |
| May 9, 2024 | $-0.06 | $-1.02 | -1600.0% | — | — |
| Nov 29, 2023 | $-0.70 | $-1.03 | -47.1% | $16M | -68.3% |
| May 2, 2023 | $-0.64 | $0.45 | +170.3% | $146M | +221.6% |
| Feb 6, 2023 | $1.14 | $-0.39 | -134.2% | $63M | -61.5% |
| Nov 28, 2022 | $-0.57 | $-0.81 | -42.1% | $32M | -37.2% |
| Aug 4, 2022 | $-0.45 | $-0.68 | -51.1% | $32M | -29.2% |
ARWR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 17, 2026 | Cohen Matthew Gregorydirector | Grant | 11,882 | — |
| May 14, 2026 | Lu Hongbodirector | Sell | 2,970 | $76.88 |
| Apr 24, 2026 | Apel Daniel Josephofficer: Chief Financial Officer | Sell | 1,157 | $70.45 |
| Apr 24, 2026 | Apel Daniel Josephofficer: Chief Financial Officer | Sell | 3,208 | $70.11 |
| Apr 24, 2026 | Hamilton James Cofficer: Chief Medical Officer | Sell | 10,000 | $75.00 |
| Apr 24, 2026 | Apel Daniel Josephofficer: Chief Financial Officer | Sell | 8,730 | $71.92 |
| Mar 9, 2026 | Hamilton James Cofficer: Chief Medical Officer | Sell | 10,000 | $64.19 |
| Jan 8, 2026 | O'Brien Patrickofficer: COO | Grant | 75,000 | — |
| Jan 8, 2026 | Apel Daniel Josephofficer: Chief Financial Officer | Grant | 75,000 | — |
| Jan 8, 2026 | Hamilton James Cofficer: Chief Medical Officer | Grant | 75,000 | — |
| Jan 5, 2026 | O'Brien Patrickofficer: COO | Sell | 600 | $61.12 |
| Jan 5, 2026 | O'Brien Patrickofficer: COO | Sell | 900 | $66.01 |
| Jan 5, 2026 | Hamilton James Cofficer: Chief Medical Officer | Sell | 309 | $68.00 |
| Jan 5, 2026 | Hamilton James Cofficer: Chief Medical Officer | Sell | 6,090 | $62.28 |
| Jan 5, 2026 | O'Brien Patrickofficer: COO | Sell | 313 | $68.00 |
Source: ARWR SEC Form 4 filings, latest Jun 17, 2026. For informational purposes only — not investment advice.
See the full ARWR insider & 13F page →Arrowhead Pharmaceuticals, Inc. company profile
Overview
Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) is a clinical-stage biotechnology company founded in 1989 and headquartered in Pasadena, California. The company went public in 1993 and has evolved into a leading developer of RNA interference (RNAi) therapeutics for treating rare and complex diseases. Arrowhead has built a proprietary platform technology that enables targeted delivery of RNAi medicines to specific tissues and organs, with a robust pipeline spanning multiple therapeutic areas including cardiometabolic diseases, pulmonary disorders, muscular dystrophy, and central nervous system conditions.
Business
Arrowhead Pharmaceuticals operates in the biotechnology sector, specifically focused on developing RNA interference (RNAi) therapeutics. RNAi is a natural biological process that cells use to regulate gene expression by silencing specific genes. The company's core technology harnesses this mechanism to create medicines that can "turn off" disease-causing genes by preventing them from producing harmful proteins. The company's proprietary Targeted RNAi Molecule (TRiM) platform enables precise delivery of RNAi therapeutics to specific tissues including the liver, lungs, skeletal muscle, central nervous system, and adipose tissue. This targeted approach is crucial because it allows the medicine to reach the exact location where the disease-causing gene needs to be silenced, while minimizing side effects in other parts of the body. Arrowhead's pipeline consists of multiple business segments: 1. Cardiometabolic Programs (primary revenue focus): This segment includes plozasiran for treating severe triglyceride disorders and zodasiran for cholesterol management. The cardiometabolic franchise represents the company's most advanced commercial opportunity, with plozasiran potentially launching in 2025. 2. Pulmonary Programs: Targeting lung diseases through inhaled RNAi therapeutics, including treatments for asthma, chronic obstructive pulmonary disease, and other respiratory conditions. 3. Muscular Dystrophy and Neuromuscular Programs: Developed through a major partnership with Sarepta Therapeutics, focusing on rare genetic muscle diseases. 4. Central Nervous System Programs: Early-stage programs targeting neurological conditions like Huntington's disease, Alzheimer's, and ALS through novel blood-brain barrier delivery technology. 5. Complement and Immunology Programs: Targeting immune system-related diseases through complement pathway modulation. The company operates under a "20 in '25" strategy, aiming to have 20 clinical-stage or marketed products by 2025, with 15 programs currently in clinical development.
Revenue model
Arrowhead generates revenue through multiple business models centered around its RNAi platform technology. The primary revenue streams include partnership agreements with large pharmaceutical companies, milestone payments tied to clinical development progress, upfront licensing fees, and future royalty payments from commercialized products. The company's most significant recent transaction was a transformational partnership with Sarepta Therapeutics valued at over $11 billion in total potential payments. This deal included a $500 million upfront payment, $325 million equity investment, and up to $300 million in near-term milestone payments, with additional development and commercial milestones extending the total value significantly. Arrowhead also generates revenue through royalty monetization, having sold future royalties from olpasiran to Royalty Pharma for $250 million upfront. The company's paying customers are primarily large pharmaceutical companies seeking to license or co-develop RNAi therapeutics, as well as healthcare systems and patients (once products reach market). The company's margin profile is influenced by several factors. Positive margin drivers include the scalable nature of RNAi platform technology, where successful development of one program can accelerate development of similar programs targeting different genes. The company's expertise in tissue-specific delivery creates competitive advantages that can command premium pricing. Partnership deals provide non-dilutive funding that reduces cash burn while maintaining upside participation. Negative margin pressures include the high cost of clinical trials, particularly Phase 3 studies which can cost hundreds of millions of dollars. Regulatory risks in the biotechnology sector can lead to program failures and write-offs. The company faces competitive pressure from other RNAi companies like Alnylam Pharmaceuticals and traditional small molecule drug developers. Manufacturing costs for complex RNAi therapeutics can be significant, though these typically become more favorable at commercial scale.
Competitive moat
Arrowhead's competitive moat is moderately strong and built primarily around its proprietary TRiM (Targeted RNAi Molecule) platform technology. The company has demonstrated the ability to deliver RNAi therapeutics to multiple tissue types beyond the liver, which has been a significant technical challenge in the field. This multi-tissue delivery capability represents a meaningful technological advantage, as most competitors have been limited to liver-targeted therapies. The company's intellectual property portfolio and clinical expertise in RNAi development create barriers to entry, particularly in specific therapeutic areas where Arrowhead has established clinical proof-of-concept. The partnership with Sarepta provides additional moat strength through shared resources and reduced competitive pressure in the muscular dystrophy space. However, the moat faces several challenges. Large pharmaceutical companies like Roche and Novartis are developing competing RNAi platforms with significantly greater financial resources. Alnylam Pharmaceuticals remains the dominant player in RNAi therapeutics with multiple approved products and extensive patent protection. Alternative therapeutic modalities including gene therapy, antisense oligonucleotides, and traditional small molecules continue to advance and may offer superior efficacy or safety profiles for certain indications. The company's moat is strongest in its lead cardiometabolic programs where it has generated compelling clinical data, but remains vulnerable in earlier-stage programs where technological advantages may not translate to commercial success. The biotechnology sector's high failure rates and regulatory uncertainties limit the durability of any competitive advantages until products achieve market approval and commercial validation.
Risks & safety
The margin of safety is moderate but declining, with significant cash burn creating time pressure for clinical and partnership execution. • Cash and Liquidity: $553 million in cash and investments as of Q1 2025 (pro forma $1.4 billion after Sarepta deal), providing runway into 2028 • Cash Burn: High quarterly burn rate of approximately $150 million, with annual operating cash burn of $500-550 million expected in fiscal 2025 • Debt Level: Moderate debt-to-equity ratio of 9.99x, though much of this represents milestone obligations rather than traditional debt • Solvency Risk: Low near-term risk due to Sarepta partnership funding, but medium-term risk if clinical programs fail to advance • Valuation Metrics: Trading at 44.6x book value and negative earnings multiples due to pre-revenue status • Enterprise Value: Negative EV/EBITDA of -4.75x reflects significant cash position relative to market cap • Current Ratio: Strong at 6.09x indicating good short-term liquidity • Other Considerations: Binary clinical trial risks, regulatory approval uncertainties, and competitive threats from larger pharmaceutical companies with greater resources
Recent development
Over the past few years, Arrowhead has executed a significant strategic transformation focused on cardiometabolic diseases while expanding its platform capabilities across multiple tissue types. The company's most significant recent development was the transformational partnership with Sarepta Therapeutics announced in 2024, providing over $11 billion in potential value and securing funding through 2028. The company has advanced its lead program plozasiran through Phase 3 clinical trials for Familial Chylomicronemia Syndrome (FCS), with an NDA filed and a PDUFA date of November 18, 2025. This represents Arrowhead's first potential commercial product launch, targeting a market worth $2-3 billion annually in severe hypertriglyceridemia. Arrowhead has significantly expanded its platform capabilities beyond liver-targeted therapies to include pulmonary, skeletal muscle, central nervous system, and adipose tissue delivery. The company became the first to demonstrate RNAi gene knockdown in human lungs, achieving up to 90% target gene silencing with its ARO-RAGE program. The new TRiM platform for CNS delivery has shown promising preclinical data in non-human primates for crossing the blood-brain barrier. The company has also entered the obesity market with two early-stage programs (ARO-INHBE and ARO-ALK7) that target novel pathways for fat loss and muscle preservation, potentially positioning for combination therapy with existing GLP-1 treatments. Strategic portfolio management included divesting certain programs to Sarepta while retaining core cardiometabolic assets and select early-stage opportunities. Recent financing activities included securing a $500 million credit facility with Sixth Street and executing a $250 million royalty sale to Royalty Pharma, demonstrating multiple avenues for non-dilutive funding. The company has maintained its "20 in '25" strategy while focusing resources on the highest-value opportunities.
ARWR company profile · for informational purposes only — not investment advice.
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