Brokerages expect Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to report $4.43 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings, with estimates ranging from $4.00 million to $4.86 million. Arena Pharmaceuticals posted sales of $85.37 million during the same quarter last year, which suggests a negative year-over-year growth rate of 94.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 13th.

According to Zacks, analysts expect that Arena Pharmaceuticals will report full year sales of $4.43 million for the current year, with estimates ranging from $25.10 million to $30.00 million. For the next fiscal year, analysts forecast that the business will report sales of $24.11 million per share, with estimates ranging from $18.00 million to $28.33 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.01. The company had revenue of $7.95 million during the quarter, compared to the consensus estimate of $5.48 million. Arena Pharmaceuticals had a negative return on equity of 34.12% and a negative net margin of 36.78%. Arena Pharmaceuticals’s revenue was down 58.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS.

Several equities analysts have weighed in on the company. BidaskClub raised Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Cantor Fitzgerald reissued a “buy” rating and set a $37.00 price objective on shares of Arena Pharmaceuticals in a research report on Monday, September 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Arena Pharmaceuticals in a research report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.00.

Arena Pharmaceuticals (ARNA) opened at $29.97 on Wednesday. The company has a quick ratio of 4.32, a current ratio of 4.42 and a debt-to-equity ratio of 0.27. Arena Pharmaceuticals has a 52-week low of $11.30 and a 52-week high of $31.75.

Several institutional investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its stake 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 worth $112,000 after purchasing an additional 2,466 shares during the last quarter. Bank of America Corp DE lifted its stake 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 worth $141,000 after purchasing an additional 48,667 shares during the last quarter. Strs Ohio purchased a new stake in Arena Pharmaceuticals during the second quarter worth approximately $156,000. Cubist Systematic Strategies LLC purchased a new stake in Arena Pharmaceuticals during the third quarter worth approximately $174,000. Finally, Airain ltd purchased a new stake in Arena Pharmaceuticals during the second quarter worth approximately $178,000. 72.85% of the stock is owned by institutional investors and hedge funds.

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

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