Zacks: Analysts Anticipate Arena Pharmaceuticals, Inc. (ARNA) to Post -$0.64 EPS
Equities research analysts forecast that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will report earnings of ($0.64) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arena Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.59) and the lowest estimate coming in at ($0.71). Arena Pharmaceuticals posted earnings of $1.60 per share during the same quarter last year, which suggests a negative year over year growth rate of 140%. The company is expected to report its next quarterly earnings results on Tuesday, March 13th.
Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Arena Pharmaceuticals.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.01. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The firm had revenue of $7.95 million during the quarter, compared to the consensus estimate of $5.48 million. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was down 58.6% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can increased its holdings in Arena Pharmaceuticals by 128.2% during the third quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 2,466 shares during the period. Bank of America Corp DE increased its holdings in Arena Pharmaceuticals by 102.0% during the first quarter. Bank of America Corp DE now owns 96,379 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 48,667 shares during the period. Strs Ohio purchased a new position in Arena Pharmaceuticals during the second quarter valued at approximately $156,000. Cubist Systematic Strategies LLC purchased a new position in Arena Pharmaceuticals during the third quarter valued at approximately $174,000. Finally, Airain ltd purchased a new position in Arena Pharmaceuticals during the second quarter valued at approximately $178,000. 72.85% of the stock is currently owned by institutional investors.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) opened at $30.75 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. Arena Pharmaceuticals has a 12 month low of $11.30 and a 12 month high of $31.75.
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Arena Pharmaceuticals Company Profile
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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