Equities analysts forecast that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will report $4.43 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Arena Pharmaceuticals’ earnings, with estimates ranging from $4.00 million to $4.86 million. Arena Pharmaceuticals posted sales of $85.37 million during the same quarter last year, which suggests a negative year over year growth rate of 94.8%. The firm is expected to announce its next quarterly earnings results on Tuesday, March 13th.
On average, analysts expect that Arena Pharmaceuticals will report full year sales of $4.43 million for the current year, with estimates ranging from $25.10 million to $30.00 million. For the next financial year, analysts forecast that the firm will post sales of $24.11 million per share, with estimates ranging from $18.00 million to $28.33 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Arena Pharmaceuticals.
Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. BidaskClub upgraded shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Credit Suisse Group assumed coverage on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. They set an “outperform” rating and a $44.00 price target on the stock. Leerink Swann restated a “positive” rating and set a $56.00 price target (up from $53.00) on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $45.00 price target 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 issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $38.38.
Several hedge funds have recently added to or reduced their stakes in ARNA. Nationwide Fund Advisors lifted its stake in shares of Arena Pharmaceuticals by 109.0% in the 3rd quarter. Nationwide Fund Advisors now owns 38,751 shares of the biopharmaceutical company’s stock valued at $988,000 after purchasing an additional 20,209 shares during the last quarter. First Midwest Bank Trust Division acquired a new stake in shares of Arena Pharmaceuticals in the 3rd quarter valued at $863,000. Pictet Asset Management Ltd. acquired a new stake in shares of Arena Pharmaceuticals in the 3rd quarter valued at $13,656,000. Dupont Capital Management Corp acquired a new stake in shares of Arena Pharmaceuticals in the 3rd quarter valued at $422,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Arena Pharmaceuticals in the 3rd quarter valued at $252,000. 71.02% of the stock is owned by institutional investors and hedge funds.
Arena Pharmaceuticals (NASDAQ:ARNA) traded up $0.03 during trading on Monday, hitting $40.80. 364,524 shares of the stock traded hands, compared to its average volume of 597,891. 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 fifty-two week low of $11.30 and a fifty-two week high of $41.92. The stock has a market cap of $1,600.00, a PE ratio of -43.40 and a beta of 1.64.
COPYRIGHT VIOLATION WARNING: “Arena Pharmaceuticals, Inc. (ARNA) Expected to Post Quarterly Sales of $4.43 Million” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another site, it was illegally copied and reposted in violation of United States & international copyright and trademark laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/19/arena-pharmaceuticals-inc-arna-expected-to-post-quarterly-sales-of-4-43-million.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).
Get a free copy of the Zacks research report on Arena Pharmaceuticals (ARNA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.