Wall Street brokerages forecast that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will report earnings per share of ($1.05) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Arena Pharmaceuticals’ earnings. The highest EPS estimate is ($0.76) and the lowest is ($1.25). Arena Pharmaceuticals posted earnings per share of ($0.70) in the same quarter last year, which would indicate a negative year over year growth rate of 50%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 6th.
Zacks’ EPS calculations are an average based on a survey of research firms that follow Arena Pharmaceuticals.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.02) by ($0.22). The company had revenue of $1.02 million during the quarter, compared to the consensus estimate of $2.91 million. Arena Pharmaceuticals had a return on equity of 69.72% and a net margin of 76.19%. Arena Pharmaceuticals’s revenue was down 74.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.65) earnings per share.
In other Arena Pharmaceuticals news, Director Jayson Donald Alexander Dallas sold 1,525 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $55.90, for a total value of $85,247.50. Following the completion of the sale, the director now directly owns 5,704 shares in the company, valued at $318,853.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.73% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. acquired a new stake in shares of Arena Pharmaceuticals during the first quarter worth $42,118,000. Pictet Asset Management Ltd. increased its position in shares of Arena Pharmaceuticals by 1.3% in the 1st quarter. Pictet Asset Management Ltd. now owns 861,345 shares of the biopharmaceutical company’s stock valued at $38,614,000 after purchasing an additional 10,829 shares during the last quarter. Rubric Capital Management LP increased its position in shares of Arena Pharmaceuticals by 33.2% in the 1st quarter. Rubric Capital Management LP now owns 857,103 shares of the biopharmaceutical company’s stock valued at $38,424,000 after purchasing an additional 213,706 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at approximately $30,270,000. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at approximately $29,838,000. Institutional investors own 83.06% of the company’s stock.
ARNA stock traded down $1.88 during trading on Friday, hitting $54.30. 45,549 shares of the company’s stock traded hands, compared to its average volume of 400,929. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -18.50 and a beta of 1.42. The stock’s fifty day moving average price is $60.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 35.51 and a quick ratio of 35.51. Arena Pharmaceuticals has a 1 year low of $31.97 and a 1 year high of $64.48.
About Arena Pharmaceuticals
Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on providing novel medicines with pharmacology and pharmacokinetics to patients worldwide. Its investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod (APD334) for ulcerative colitis, and Crohn's disease, as well as for atopic dermatitis and other indications; and Olorinab (APD371), which is in Phase II trial for the treatment of gastrointestinal pain.
Featured Article: Leveraged Buyout (LBO) Explained
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arena Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arena Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.