Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Equities researchers at Cantor Fitzgerald lowered their FY2019 EPS estimates for Arena Pharmaceuticals in a research note issued to investors on Thursday, August 8th. Cantor Fitzgerald analyst A. Young now forecasts that the biopharmaceutical company will earn $8.79 per share for the year, down from their prior estimate of $9.18. Cantor Fitzgerald currently has a “Buy” rating on the stock. Cantor Fitzgerald also issued estimates for Arena Pharmaceuticals’ FY2020 earnings at ($5.46) EPS.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.02) by ($0.22). The firm had revenue of $1.02 million for the quarter, compared to the consensus estimate of $2.91 million. Arena Pharmaceuticals had a net margin of 72.84% and a return on equity of 60.83%. The firm’s revenue for the quarter was down 74.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.65) earnings per share.
Shares of ARNA stock opened at $53.48 on Monday. The company has a market cap of $2.55 billion, a P/E ratio of -18.13 and a beta of 1.42. Arena Pharmaceuticals has a one year low of $31.97 and a one year high of $64.48. The company’s fifty day moving average price is $60.26. The company has a quick ratio of 35.51, a current ratio of 35.51 and a debt-to-equity ratio of 0.04.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio increased its holdings in Arena Pharmaceuticals by 1,646.2% in the 2nd quarter. Strs Ohio now owns 22,700 shares of the biopharmaceutical company’s stock valued at $1,330,000 after acquiring an additional 21,400 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Arena Pharmaceuticals by 47.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 530,482 shares of the biopharmaceutical company’s stock valued at $20,663,000 after acquiring an additional 170,954 shares during the last quarter. Bailard Inc. increased its holdings in Arena Pharmaceuticals by 36.7% in the 1st quarter. Bailard Inc. now owns 67,000 shares of the biopharmaceutical company’s stock valued at $3,004,000 after acquiring an additional 18,000 shares during the last quarter. Legacy Bridge LLC bought a new stake in Arena Pharmaceuticals in the 1st quarter valued at $67,000. Finally, Amalgamated Bank bought a new stake in Arena Pharmaceuticals in the 4th quarter valued at $277,000. Institutional investors own 83.25% of the company’s stock.
In other Arena Pharmaceuticals news, Director Jayson Donald Alexander Dallas sold 1,525 shares of Arena Pharmaceuticals stock in a transaction 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 sale, the director now directly owns 5,704 shares in the company, valued at approximately $318,853.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.73% of the company’s stock.
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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