Analysts Anticipate Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to Announce -$1.05 Earnings Per Share

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.

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “buy” rating on shares of Arena Pharmaceuticals in a report on Wednesday, May 8th. Zacks Investment Research lowered shares of Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. ValuEngine lowered shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. TheStreet lowered shares of Arena Pharmaceuticals from a “b” rating to a “c+” rating in a report on Wednesday. Finally, BidaskClub raised shares of Arena Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.17.

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.

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Earnings History and Estimates for Arena Pharmaceuticals (NASDAQ:ARNA)

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