-$1.02 EPS Expected for Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) This Quarter

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Brokerages expect that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will announce earnings of ($1.02) per share for the current quarter, Zacks reports. Two analysts have made estimates for Arena Pharmaceuticals’ earnings, with estimates ranging from ($1.16) to ($0.77). Arena Pharmaceuticals posted earnings of ($0.65) per share during the same quarter last year, which indicates a negative year over year growth rate of 56.9%. The firm is expected to issue its next quarterly earnings results on Monday, August 5th.

Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $12.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $12.91. The company had revenue of $801.06 million during the quarter, compared to analyst estimates of $801.82 million. Arena Pharmaceuticals had a return on equity of 69.72% and a net margin of 76.19%. Arena Pharmaceuticals’s quarterly revenue was up 45414.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.80) earnings per share.

Several equities analysts have recently issued reports on ARNA shares. Credit Suisse Group reduced their target price on HollyFrontier from $63.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. ValuEngine lowered Yext from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. TheStreet lowered Weibo from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Finally, Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $62.17.

In other Arena Pharmaceuticals news, Director Jayson Donald Alexander Dallas sold 1,525 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $55.90, for a total transaction of $85,247.50. Following the completion of the transaction, the director now directly owns 5,704 shares of the company’s stock, valued at $318,853.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.73% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Exane Derivatives bought a new position in Arena Pharmaceuticals during the second quarter valued at $315,000. WINTON GROUP Ltd boosted its holdings in shares of Arena Pharmaceuticals by 223.7% in the second quarter. WINTON GROUP Ltd now owns 15,826 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 10,937 shares during the period. Marshall Wace North America L.P. boosted its holdings in shares of Arena Pharmaceuticals by 39.9% in the first quarter. Marshall Wace North America L.P. now owns 589,690 shares of the biopharmaceutical company’s stock worth $26,436,000 after acquiring an additional 168,164 shares during the period. Atika Capital Management LLC boosted its holdings in shares of Arena Pharmaceuticals by 8.3% in the first quarter. Atika Capital Management LLC now owns 195,000 shares of the biopharmaceutical company’s stock worth $8,742,000 after acquiring an additional 15,000 shares during the period. Finally, Rubric Capital Management LP boosted its holdings in shares of Arena Pharmaceuticals by 33.2% in the first quarter. Rubric Capital Management LP now owns 857,103 shares of the biopharmaceutical company’s stock worth $38,424,000 after acquiring an additional 213,706 shares during the period. 83.18% of the stock is owned by institutional investors and hedge funds.

Shares of ARNA stock traded down $1.34 during trading on Friday, hitting $60.43. The company’s stock had a trading volume of 6,991 shares, compared to its average volume of 467,450. The company has a market cap of $3.05 billion, a P/E ratio of -20.67 and a beta of 1.48. The company has a current ratio of 35.51, a quick ratio of 35.51 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $57.86. Arena Pharmaceuticals has a 52 week low of $31.97 and a 52 week high of $62.64.

About Arena Pharmaceuticals

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.

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

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