$4.43 Million in Sales Expected for Arena Pharmaceuticals, Inc. (ARNA) This Quarter

Equities analysts expect that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will post $4.43 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Arena Pharmaceuticals’ earnings. The highest sales estimate is $4.86 million and the lowest is $4.00 million. Arena Pharmaceuticals reported sales of $85.37 million during the same quarter last year, which indicates a negative year-over-year growth rate of 94.8%. The firm is scheduled to issue its next 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 fiscal year, analysts expect that the firm will report sales of $24.11 million per share, with estimates ranging from $18.00 million to $28.33 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.01. Arena Pharmaceuticals had a negative return on equity of 34.12% and a negative net margin of 36.78%. The firm had revenue of $7.95 million during the quarter, compared to analyst estimates of $5.48 million. During the same period last year, the company earned ($0.05) EPS. Arena Pharmaceuticals’s quarterly revenue was down 58.6% compared to the same quarter last year.

Several research analysts have recently commented on the company. BidaskClub lowered Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 19th. Wells Fargo & Co raised Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price target on shares of Arena Pharmaceuticals in a research report on Monday, September 25th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Arena Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $36.00.

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in Arena Pharmaceuticals during the 3rd quarter valued at about $9,973,000. American Century Companies Inc. grew its stake in Arena Pharmaceuticals by 171.8% during the 3rd quarter. American Century Companies Inc. now owns 64,994 shares of the biopharmaceutical company’s stock valued at $1,657,000 after purchasing an additional 41,082 shares during the last quarter. Swiss National Bank grew its stake in Arena Pharmaceuticals by 30.3% during the 3rd quarter. Swiss National Bank now owns 63,630 shares of the biopharmaceutical company’s stock valued at $1,623,000 after purchasing an additional 14,800 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Arena Pharmaceuticals during the 3rd quarter valued at about $2,156,000. Finally, Nationwide Fund Advisors grew its stake in Arena Pharmaceuticals by 109.0% during 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. Institutional investors and hedge funds own 72.82% of the company’s stock.

Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down $2.44 during midday trading on Tuesday, reaching $38.40. The company’s stock had a trading volume of 829,800 shares, compared to its average volume of 930,900. The company has a current ratio of 4.42, a quick ratio of 4.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $1,510.00, a price-to-earnings ratio of -40.85 and a beta of 1.49. Arena Pharmaceuticals has a 1-year low of $11.30 and a 1-year high of $41.92.

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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).

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

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