Arena Pharmaceuticals, Inc. (ARNA) Expected to Post Earnings of -$0.64 Per Share

Analysts expect Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to post earnings per share of ($0.64) 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 would indicate a negative year over year growth rate of 140%. The firm is scheduled to announce its next earnings report on Tuesday, March 13th.

Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Arena Pharmaceuticals.

A number of equities analysts recently issued reports on the company. ValuEngine raised Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. BidaskClub raised Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Credit Suisse Group started coverage on Arena Pharmaceuticals in a report on Wednesday, January 17th. They issued an “outperform” rating and a $44.00 price objective for the company. Leerink Swann reissued a “positive” rating and issued a $56.00 price objective (up from $53.00) on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $45.00 price objective on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.38.

Several hedge funds have recently bought and sold shares of the company. Pictet Asset Management Ltd. acquired a new stake in shares of Arena Pharmaceuticals in the third quarter valued at approximately $13,656,000. Point72 Asset Management L.P. acquired a new stake in shares of Arena Pharmaceuticals during the third quarter worth $9,973,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Arena Pharmaceuticals by 16.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 209,085 shares of the biopharmaceutical company’s stock worth $7,103,000 after purchasing an additional 29,732 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Arena Pharmaceuticals during the third quarter worth $5,100,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Arena Pharmaceuticals by 22.0% during the third quarter. Bank of New York Mellon Corp now owns 170,336 shares of the biopharmaceutical company’s stock worth $4,343,000 after purchasing an additional 30,660 shares during the period. 72.39% of the stock is owned by institutional investors and hedge funds.

Shares of Arena Pharmaceuticals (ARNA) traded up $1.31 on Friday, reaching $39.71. The company had a trading volume of 680,094 shares, compared to its average volume of 643,537. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 4.32. The firm has a market capitalization of $1,610.00, a P/E ratio of -42.24 and a beta of 1.64. Arena Pharmaceuticals has a 52-week low of $11.30 and a 52-week high of $41.92.

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

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