Brokerages Expect Arena Pharmaceuticals (ARNA) to Announce -$0.62 EPS

Equities analysts forecast that Arena Pharmaceuticals (NASDAQ:ARNA) will announce earnings per share of ($0.62) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arena Pharmaceuticals’ earnings. The highest EPS estimate is ($0.49) and the lowest is ($0.71). Arena Pharmaceuticals posted earnings per share of ($0.77) in the same quarter last year, which suggests a positive year-over-year growth rate of 19.5%. The company is expected to announce its next earnings results on Monday, August 6th.

Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.12). Arena Pharmaceuticals had a negative return on equity of 34.08% and a negative net margin of 321.04%. The firm had revenue of $1.76 million during the quarter, compared to analysts’ expectations of $4.02 million. During the same period in the previous year, the firm posted ($0.90) earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis.



A number of equities analysts have commented on the stock. BidaskClub lowered shares of Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Needham & Company LLC upgraded shares of Arena Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.89 to $60.00 in a report on Tuesday, March 20th. JMP Securities boosted their price objective on shares of Arena Pharmaceuticals from $63.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, March 20th. ValuEngine upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, March 22nd. Finally, Citigroup reiterated a “buy” rating and issued a $62.00 price objective on shares of Arena Pharmaceuticals in a report on Wednesday, March 21st. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Arena Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $53.13.

Arena Pharmaceuticals opened at $45.33 on Wednesday, Marketbeat Ratings reports. The company has a current ratio of 15.28, a quick ratio of 15.28 and a debt-to-equity ratio of 0.10. Arena Pharmaceuticals has a twelve month low of $12.20 and a twelve month high of $47.64.

In other news, EVP Steven W. Spector sold 30,001 shares of the company’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $34.57, for a total value of $1,037,134.57. Following the sale, the executive vice president now owns 34,691 shares in the company, valued at approximately $1,199,267.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Several institutional investors have recently modified their holdings of ARNA. Quantbot Technologies LP raised its stake in shares of Arena Pharmaceuticals by 191.5% in the 1st quarter. Quantbot Technologies LP now owns 3,918 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 2,574 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at about $225,000. Commonwealth Equity Services LLC acquired a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at about $225,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at about $250,000. Finally, Delpha Capital Management LLC acquired a new stake in shares of Arena Pharmaceuticals in the 1st quarter valued at about $264,000. Institutional investors and hedge funds own 77.52% of the company’s stock.

About Arena Pharmaceuticals

Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. Its proprietary investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod that is in Phase II trials for treating immune and inflammatory conditions with primary focus on ulcerative colitis and hepatic conditions, as well as for primary biliary cholangitis and pyoderma gangrenosum; and APD371, which is in Phase II trial for the treatment of pain associated with Crohn's disease.

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

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