Equities research analysts expect that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will post sales of $4.43 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings, with the highest sales estimate coming in at $4.86 million and the lowest estimate coming in at $4.00 million. Arena Pharmaceuticals posted sales of $85.37 million during the same quarter last year, which would indicate a negative year over year growth rate of 94.8%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, March 13th.
On average, analysts expect that Arena Pharmaceuticals will report full-year sales of $4.43 million for the current financial year, with estimates ranging from $25.10 million to $30.00 million. For the next financial year, analysts forecast that the business will post sales of $24.11 million per share, with estimates ranging from $18.00 million to $28.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Arena Pharmaceuticals.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.01. The business had revenue of $7.95 million during the quarter, compared to analysts’ expectations of $5.48 million. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The company’s quarterly revenue was down 58.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share.
Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated a “buy” rating and set a $37.00 price objective on shares of Arena Pharmaceuticals in a research report on Monday, September 25th. Needham & Company LLC restated a “hold” rating on shares of Arena Pharmaceuticals in a research report on Tuesday, August 8th. Finally, BidaskClub cut shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Arena Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $36.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its stake in shares of Arena Pharmaceuticals by 128.2% in the third quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 2,466 shares during the period. Bank of America Corp DE boosted its stake in shares of Arena Pharmaceuticals by 102.0% in the first quarter. Bank of America Corp DE now owns 96,379 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 48,667 shares during the period. Strs Ohio purchased a new position in shares of Arena Pharmaceuticals in the second quarter valued at approximately $156,000. Cubist Systematic Strategies LLC purchased a new position in shares of Arena Pharmaceuticals in the third quarter valued at approximately $174,000. Finally, Airain ltd purchased a new position in shares of Arena Pharmaceuticals in the second quarter valued at approximately $178,000. Institutional investors and hedge funds own 49.69% of the company’s stock.
Shares of Arena Pharmaceuticals (ARNA) opened at $26.55 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. Arena Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $28.97.
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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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