FY2017 Earnings Forecast for Arena Pharmaceuticals, Inc. Issued By Cantor Fitzgerald (ARNA)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Analysts at Cantor Fitzgerald issued their FY2017 earnings per share estimates for shares of Arena Pharmaceuticals in a research note issued to investors on Sunday. Cantor Fitzgerald analyst W. Tanner expects that the biopharmaceutical company will post earnings per share of ($3.00) for the year. Cantor Fitzgerald currently has a “Buy” rating and a $37.00 price target on the stock. Cantor Fitzgerald also issued estimates for Arena Pharmaceuticals’ FY2018 earnings at ($2.41) EPS.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.01. The company had revenue of $7.95 million for the quarter, compared to the consensus estimate of $5.48 million. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. Arena Pharmaceuticals’s revenue for the quarter was down 58.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS.
Shares of Arena Pharmaceuticals (ARNA) opened at $39.36 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. The stock has a market cap of $1,550.00, a price-to-earnings ratio of -41.87 and a beta of 1.49. Arena Pharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $41.92.
Several institutional investors have recently bought and sold shares of ARNA. State of Wisconsin Investment Board bought a new stake in shares of Arena Pharmaceuticals in the 2nd quarter worth about $410,000. American Century Companies Inc. purchased a new position in shares of Arena Pharmaceuticals during the 2nd quarter worth about $403,000. JPMorgan Chase & Co. boosted its stake in shares of Arena Pharmaceuticals by 16,992.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 317,754 shares of the biopharmaceutical company’s stock worth $5,361,000 after purchasing an additional 315,895 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Arena Pharmaceuticals during the 2nd quarter worth about $1,677,000. Finally, Balyasny Asset Management LLC purchased a new position in shares of Arena Pharmaceuticals during the 2nd quarter worth about $12,183,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.
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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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