Wall Street brokerages expect that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will post sales of $930,000.00 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings. The highest sales estimate is $1.00 million and the lowest is $860,000.00. Arena Pharmaceuticals reported sales of $7.95 million in the same quarter last year, which indicates a negative year-over-year growth rate of 88.3%. The firm is scheduled to issue its next earnings results on Tuesday, November 6th.

On average, analysts expect that Arena Pharmaceuticals will report full year sales of $9.39 million for the current financial year, with estimates ranging from $7.46 million to $13.00 million. For the next fiscal year, analysts expect that the business will post sales of $7.42 million, with estimates ranging from $4.00 million to $14.00 million. Zacks’ sales averages 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 earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.01). The company had revenue of $4.00 million during the quarter, compared to the consensus estimate of $3.91 million. Arena Pharmaceuticals had a negative return on equity of 25.90% and a negative net margin of 377.94%. Arena Pharmaceuticals’s revenue was up 110.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.77) earnings per share.

Several brokerages have recently weighed in on ARNA. Cantor Fitzgerald set a $65.00 price target on shares of Arena Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday. BidaskClub raised shares of Arena Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. ValuEngine cut shares of Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 24th. Royal Bank of Canada began coverage on shares of Arena Pharmaceuticals in a research report on Thursday, May 31st. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Credit Suisse Group lowered their price target on shares of Arena Pharmaceuticals from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $62.88.

In related news, EVP Steven W. Spector sold 29,005 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $36.01, for a total transaction of $1,044,470.05. Following the completion of the sale, the executive vice president now owns 48,695 shares of the company’s stock, valued at $1,753,506.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.92% of the company’s stock.

A number of large investors have recently bought and sold shares of ARNA. Meeder Asset Management Inc. lifted its position in Arena Pharmaceuticals by 248.1% during the second quarter. Meeder Asset Management Inc. now owns 2,684 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 1,913 shares during the last quarter. Quantbot Technologies LP lifted its position in Arena Pharmaceuticals by 191.5% during the first quarter. Quantbot Technologies LP now owns 3,918 shares of the biopharmaceutical company’s stock valued at $154,000 after acquiring an additional 2,574 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in Arena Pharmaceuticals during the first quarter valued at approximately $225,000. Amalgamated Bank purchased a new stake in Arena Pharmaceuticals during the first quarter valued at approximately $225,000. Finally, Smith Asset Management Group LP purchased a new stake in Arena Pharmaceuticals during the second quarter valued at approximately $248,000. 81.92% of the stock is owned by institutional investors.

ARNA stock traded up $0.23 during mid-day trading on Friday, reaching $43.43. The company had a trading volume of 3,984 shares, compared to its average volume of 492,466. The company has a debt-to-equity ratio of 0.10, a current ratio of 28.76 and a quick ratio of 28.76. The company has a market capitalization of $2.11 billion, a P/E ratio of -16.46 and a beta of 1.48. Arena Pharmaceuticals has a 12 month low of $24.33 and a 12 month high of $50.05.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. Its proprietary investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod that is in Phase II trials for treating immune and inflammatory conditions with primary focus on ulcerative colitis and hepatic conditions, as well as for primary biliary cholangitis and pyoderma gangrenosum; and APD371, which is in Phase II trial for the treatment of pain associated with Crohn's disease.

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

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