PASADENA, Calif. (AP) — PASADENA, Calif. (AP) — Arrowhead Research Corp. (ARWR) on Monday reported fiscal second-quarter net income of $370.4 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 profit of $2.75.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The drug developer posted revenue of $542.7 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $209.1 million.
Arrowhead Research shares have fallen 25% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.03, a decrease of 36% 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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