Arena Pharmaceuticals (NASDAQ:ARNA) announced its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.30, Bloomberg Earnings reports. Arena Pharmaceuticals had a negative return on equity of 34.12% and a negative net margin of 36.78%. The firm had revenue of $15.40 million during the quarter, compared to the consensus estimate of $5.75 million. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was down 77.8% on a year-over-year basis.
Arena Pharmaceuticals (NASDAQ ARNA) traded down $1.59 during trading on Thursday, reaching $34.44. The company’s stock had a trading volume of 274,080 shares, compared to its average volume of 618,838. 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 twelve month low of $11.30 and a twelve month high of $44.50. The company has a market capitalization of $1,542.26, a P/E ratio of -38.17 and a beta of 1.51.
A number of institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in Arena Pharmaceuticals in the fourth quarter worth $635,000. Macquarie Group Ltd. lifted its holdings in Arena Pharmaceuticals by 12.7% in the fourth quarter. Macquarie Group Ltd. now owns 225,400 shares of the biopharmaceutical company’s stock valued at $7,657,000 after acquiring an additional 25,400 shares during the period. Teachers Advisors LLC lifted its holdings in Arena Pharmaceuticals by 7.3% in the fourth quarter. Teachers Advisors LLC now owns 404,528 shares of the biopharmaceutical company’s stock valued at $13,742,000 after acquiring an additional 27,348 shares during the period. Perceptive Advisors LLC bought a new position in Arena Pharmaceuticals in the fourth quarter valued at about $747,000. Finally, Deutsche Bank AG increased its position in Arena Pharmaceuticals by 112.4% in the fourth quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock worth $6,284,000 after buying an additional 97,934 shares in the last quarter. 73.31% of the stock is currently owned by institutional investors and hedge funds.
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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