-$1.36 Earnings Per Share Expected for Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) This Quarter

Brokerages expect Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to report earnings per share of ($1.36) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($1.40) and the highest estimate coming in at ($1.31). Arena Pharmaceuticals reported earnings per share of ($0.70) during the same quarter last year, which indicates a negative year-over-year growth rate of 94.3%. The company is expected to issue its next earnings results on Wednesday, November 6th.

Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.22). The firm had revenue of $1.02 million during the quarter, compared to analyst estimates of $2.91 million. Arena Pharmaceuticals had a return on equity of 53.92% and a net margin of 72.84%. Arena Pharmaceuticals’s revenue was down 74.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.65) EPS.

Several research analysts have recently commented on ARNA shares. TheStreet lowered Arena Pharmaceuticals from a “b” rating to a “c+” rating in a research report on Wednesday, August 7th. Royal Bank of Canada restated a “buy” rating and set a $79.00 price objective on shares of Arena Pharmaceuticals in a research report on Sunday, August 11th. BidaskClub upgraded Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday. Finally, ValuEngine lowered Arena Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $63.67.

Shares of ARNA traded down $0.09 during mid-day trading on Friday, hitting $48.82. The stock had a trading volume of 223,206 shares, compared to its average volume of 480,842. The company has a market cap of $2.44 billion, a PE ratio of -16.55 and a beta of 1.53. The company’s fifty day simple moving average is $49.39 and its two-hundred day simple moving average is $53.28. The company has a quick ratio of 36.51, a current ratio of 36.51 and a debt-to-equity ratio of 0.04. Arena Pharmaceuticals has a fifty-two week low of $31.97 and a fifty-two week high of $64.48.

In related news, EVP Steven W. Spector sold 31,457 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $50.72, for a total transaction of $1,595,499.04. Following the completion of the transaction, the executive vice president now owns 22,964 shares in the company, valued at approximately $1,164,734.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Vincent Aurentz sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $50.72, for a total value of $3,296,800.00. Following the transaction, the vice president now owns 25,000 shares of the company’s stock, valued at approximately $1,268,000. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC bought a new stake in Arena Pharmaceuticals during the 2nd quarter valued at $26,560,000. ETF Managers Group LLC bought a new stake in Arena Pharmaceuticals during the 2nd quarter valued at $23,749,000. Aperio Group LLC raised its stake in Arena Pharmaceuticals by 58.4% during the 2nd quarter. Aperio Group LLC now owns 12,007 shares of the biopharmaceutical company’s stock valued at $704,000 after acquiring an additional 4,426 shares in the last quarter. Strs Ohio raised its stake in Arena Pharmaceuticals by 1,646.2% during 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 in the last quarter. Finally, Atika Capital Management LLC raised its stake in Arena Pharmaceuticals by 17.9% during the 2nd quarter. Atika Capital Management LLC now owns 230,000 shares of the biopharmaceutical company’s stock valued at $13,485,000 after acquiring an additional 35,000 shares in the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.

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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