Arrowhead Research: Fiscal 3Q Earnings Snapshot
PASADENA, Calif. (AP) _ Arrowhead Research Corp. (ARWR) on Monday reported fiscal third-quarter net income of $20.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Pasadena, California-based company said it had net income of 21 cents.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The drug developer posted revenue of $42.7 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $59.1 million.
Arrowhead Research shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.24, a climb of 87% in the last 12 months.