Arrowhead Pharmaceuticals (ARWR) saw its stock price plummet 6.34% during intraday trading on Friday, reflecting a sharp negative reaction from investors.

The decline followed the release of the company's fiscal second-quarter earnings report, which revealed a revenue miss that overshadowed an earnings per share beat. Arrowhead reported revenue of $73.737 million, falling short of the analyst consensus estimate of $79.991 million. While the quarterly loss of $0.93 per share beat estimates, it marked a significant deterioration from earnings of $2.75 per share in the same period last year.

Despite recent positive analyst actions, including price target raises from RBC and Chardan Capital Markets, the market focused on the disappointing top-line performance and year-over-year profit reversal, driving the stock lower.