Arena Pharmaceuticals, Inc. (ARNA) to Post Q1 2018 Earnings of ($0.72) Per Share, Leerink Swann Forecasts
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Research analysts at Leerink Swann issued their Q1 2018 earnings estimates for shares of Arena Pharmaceuticals in a note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz forecasts that the biopharmaceutical company will post earnings of ($0.72) per share for the quarter. Leerink Swann has a “Positive” rating and a $56.00 price objective on the stock. Leerink Swann also issued estimates for Arena Pharmaceuticals’ Q2 2018 earnings at ($0.72) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.74) EPS, FY2019 earnings at ($3.05) EPS and FY2020 earnings at ($3.43) EPS.
Several other equities analysts have also issued reports on the company. BidaskClub upgraded Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 2nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. Wells Fargo & Co upgraded Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 3rd. Credit Suisse Group started coverage on Arena Pharmaceuticals in a research note on Wednesday. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, Zacks Investment Research lowered Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Arena Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $38.38.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.01. Arena Pharmaceuticals had a negative return on equity of 34.12% and a negative net margin of 36.78%. The firm had revenue of $7.95 million for the quarter, compared to analyst estimates of $5.48 million. During the same quarter last year, the firm posted ($0.05) earnings per share. The business’s revenue for the quarter was down 58.6% on a year-over-year basis.
Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can grew its stake in shares of 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 acquiring an additional 2,466 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Arena Pharmaceuticals during the third quarter worth about $174,000. B. Riley Financial Inc. purchased a new stake in shares of Arena Pharmaceuticals during the third quarter worth about $204,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Arena Pharmaceuticals during the third quarter worth about $252,000. Finally, DAFNA Capital Management LLC purchased a new stake in shares of Arena Pharmaceuticals during the second quarter worth about $262,000. Institutional investors and hedge funds own 72.82% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/19/arena-pharmaceuticals-inc-arna-to-post-q1-2018-earnings-of-0-72-per-share-leerink-swann-forecasts.html.
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).
Receive News & Ratings for Arena Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arena Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.