Analysts predict that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will post sales of $1.03 million for the current quarter, according to Zacks. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings. The highest sales estimate is $1.05 million and the lowest is $1.00 million. Arena Pharmaceuticals posted sales of $3.99 million during the same quarter last year, which suggests a negative year-over-year growth rate of 74.2%. The firm is expected to report its next earnings report on Monday, August 5th.
On average, analysts expect that Arena Pharmaceuticals will report full-year sales of $805.80 million for the current fiscal year, with estimates ranging from $804.10 million to $809.00 million. For the next year, analysts anticipate that the company will post sales of $6.16 million, with estimates ranging from $4.00 million to $10.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Arena Pharmaceuticals.
Arena Pharmaceuticals (NASDAQ:ARNA) last released its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $12.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.81) by $12.91. The firm had revenue of $801.06 million during the quarter, compared to analysts’ expectations of $801.82 million. Arena Pharmaceuticals had a net margin of 76.19% and a return on equity of 69.72%. Arena Pharmaceuticals’s revenue was up 45414.8% compared to the same quarter last year. During the same period last year, the business earned ($0.80) earnings per share.
Several equities analysts have issued reports on ARNA shares. Credit Suisse Group dropped their price objective on shares of HollyFrontier from $63.00 to $61.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. TheStreet lowered shares of Weibo from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. BidaskClub lowered shares of Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $107.00 price objective on shares of Perrigo in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $62.17.
In related news, Director Jayson Donald Alexander Dallas sold 1,525 shares of Arena Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $55.90, for a total value of $85,247.50. Following the transaction, the director now owns 5,704 shares of the company’s stock, valued at approximately $318,853.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.73% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Hanseatic Management Services Inc. bought a new position in Arena Pharmaceuticals in the 2nd quarter worth approximately $320,000. Commonwealth Equity Services LLC grew its position in Arena Pharmaceuticals by 8.3% in the second quarter. Commonwealth Equity Services LLC now owns 6,693 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 511 shares during the period. Exane Derivatives bought a new stake in Arena Pharmaceuticals in the second quarter valued at $315,000. WINTON GROUP Ltd boosted its stake in 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 purchasing an additional 10,937 shares in the last quarter. Finally, Marshall Wace North America L.P. boosted its stake in 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 purchasing an additional 168,164 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.
Arena Pharmaceuticals stock traded down $0.13 during trading on Friday, reaching $61.82. The stock had a trading volume of 309,998 shares, compared to its average volume of 441,166. The stock has a market capitalization of $3.06 billion, a PE ratio of -20.96 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 35.51 and a current ratio of 35.51. Arena Pharmaceuticals has a 52-week low of $31.97 and a 52-week high of $62.75. The firm has a 50 day moving average of $58.30.
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.
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