Arena Pharmaceuticals (NASDAQ:ARNA) Issues Quarterly Earnings Results

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Arena Pharmaceuticals (NASDAQ:ARNA) released its earnings results on Thursday. The biopharmaceutical company reported ($1.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.14), RTT News reports. Arena Pharmaceuticals had a return on equity of 53.92% and a net margin of 72.84%. The business had revenue of $1.35 million for the quarter, compared to analyst estimates of $2.06 million. During the same quarter in the previous year, the firm posted ($0.70) EPS. The business’s revenue for the quarter was down 62.2% on a year-over-year basis.

Shares of ARNA traded down $0.83 on Friday, reaching $47.40. The stock had a trading volume of 743,200 shares, compared to its average volume of 468,723. The firm has a 50-day moving average of $48.02 and a 200 day moving average of $53.52. The company has a quick ratio of 36.51, a current ratio of 36.51 and a debt-to-equity ratio of 0.04. Arena Pharmaceuticals has a twelve month low of $31.97 and a twelve month high of $64.48. The firm has a market capitalization of $2.45 billion, a PE ratio of -16.07 and a beta of 1.54.

In other Arena Pharmaceuticals news, EVP Steven W. Spector sold 31,457 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $50.72, for a total value of $1,595,499.04. Following the transaction, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at $1,164,734.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Vincent Aurentz sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $50.72, for a total value of $3,296,800.00. Following the completion of the transaction, the vice president now directly owns 25,000 shares in the company, valued at $1,268,000. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Arena Pharmaceuticals from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday. BidaskClub upgraded Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 18th. ValuEngine cut Arena Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 10th. TheStreet cut Arena Pharmaceuticals from a “b” rating to a “c+” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $79.00 price target on shares of Arena Pharmaceuticals in a report on Sunday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $62.86.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on providing novel medicines with pharmacology and pharmacokinetics to patients worldwide. Its investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod (APD334) for ulcerative colitis, and Crohn's disease, as well as for atopic dermatitis and other indications; and Olorinab (APD371), which is in Phase II trial for the treatment of gastrointestinal pain.

See Also: Buy-Side Analysts

Earnings History for Arena Pharmaceuticals (NASDAQ:ARNA)

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