PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Arrowhead Research Corp. (ARWR) on Tuesday reported fiscal second-quarter net income of $48.7 million.
On a per-share basis, the Pasadena, California-based company said it had profit of 45 cents.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 65 cents per share.
The drug developer posted revenue of $146.3 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $41 million.
Arrowhead Research shares have dropped 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.51, a fall of 18% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARWR at https://www.zacks.com/ap/ARWR
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