Arena Pharmaceuticals, Inc. (ARNA) to Release Quarterly Earnings on Monday
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is set to issue its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($0.67) per share for the quarter.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.03). Arena Pharmaceuticals had a negative net margin of 16.27% and a negative return on equity of 49.87%. The business had revenue of $6.49 million during the quarter, compared to analysts’ expectations of $5.58 million. During the same period in the prior year, the business earned ($1.10) EPS. The business’s quarterly revenue was down 31.8% on a year-over-year basis. On average, analysts expect Arena Pharmaceuticals to post $-2.91 EPS for the current fiscal year and $-2.67 EPS for the next fiscal year.
Arena Pharmaceuticals, Inc. (ARNA) opened at 27.83 on Monday. The firm has a 50-day moving average of $25.74 and a 200 day moving average of $19.67. Arena Pharmaceuticals, Inc. has a 12 month low of $11.30 and a 12 month high of $28.28. The stock’s market cap is $1.09 billion.
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ARNA has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 price objective on shares of Arena Pharmaceuticals in a research report on Monday, July 17th. Leerink Swann increased their price objective on shares of Arena Pharmaceuticals from $47.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Arena Pharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, July 4th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $19.00 price target (up from $15.00) on shares of Arena Pharmaceuticals in a report on Wednesday, July 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Arena Pharmaceuticals in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.00.
About Arena Pharmaceuticals
Arena Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing small molecule drugs across a range of therapeutic areas. The Company has three primary investigational clinical programs: etrasimod (APD334) in Phase II evaluation for ulcerative colitis, APD371 entering Phase II evaluation for the treatment of pain associated with Crohn’s disease, and ralinepag (APD811) in Phase II evaluation for pulmonary arterial hypertension (PAH).
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