Zacks: Brokerages Anticipate Arena Pharmaceuticals, Inc. (ARNA) Will Post Quarterly Sales of $4.39 Million

Equities research analysts predict that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will post sales of $4.39 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Arena Pharmaceuticals’ earnings, with estimates ranging from $4.00 million to $4.78 million. Arena Pharmaceuticals posted sales of $19.24 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 77.2%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 6th.

On average, analysts expect that Arena Pharmaceuticals will report full year sales of $4.39 million for the current year, with estimates ranging from $21.10 million to $30.00 million. For the next year, analysts anticipate that the business will post sales of $23.74 million per share, with estimates ranging from $16.90 million to $28.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.03). Arena Pharmaceuticals had a negative return on equity of 49.87% and a negative net margin of 16.27%. The firm had revenue of $6.49 million during the quarter, compared to the consensus estimate of $5.58 million. During the same quarter last year, the company posted ($1.10) EPS. Arena Pharmaceuticals’s revenue for the quarter was down 31.8% on a year-over-year basis.

A number of brokerages have weighed in on ARNA. Citigroup Inc. boosted their target price on shares of Arena Pharmaceuticals from $23.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $19.00 target price (up from $15.00) on shares of Arena Pharmaceuticals in a research note on Wednesday, July 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. BidaskClub downgraded shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Arena Pharmaceuticals in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.00.

Arena Pharmaceuticals (ARNA) opened at 25.99 on Monday. The company’s market capitalization is $1.02 billion. The stock has a 50 day moving average of $23.88 and a 200 day moving average of $18.35. Arena Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $27.86.

WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/09/zacks-brokerages-anticipate-arena-pharmaceuticals-inc-arna-will-post-quarterly-sales-of-4-39-million.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of Arena Pharmaceuticals by 2.4% in the first quarter. Wellington Management Group LLP now owns 23,583,115 shares of the biopharmaceutical company’s stock worth $34,432,000 after acquiring an additional 547,663 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Arena Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,905,389 shares of the biopharmaceutical company’s stock worth $29,063,000 after acquiring an additional 910,434 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Arena Pharmaceuticals by 12.7% in the first quarter. Renaissance Technologies LLC now owns 8,479,445 shares of the biopharmaceutical company’s stock worth $12,380,000 after acquiring an additional 957,190 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Arena Pharmaceuticals by 6.8% in the first quarter. Geode Capital Management LLC now owns 1,876,137 shares of the biopharmaceutical company’s stock worth $2,739,000 after acquiring an additional 119,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Arena Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 1,181,899 shares of the biopharmaceutical company’s stock worth $1,725,000 after acquiring an additional 10,446 shares during the last quarter. 46.21% of the stock is owned by institutional investors.

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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On average, analysts expect that Arena Pharmaceuticals will report full year sales of $4.39 million for the current year, with estimates ranging from $21.10 million to $30.00 million. For the next year, analysts anticipate that the business will post sales of $23.74 million per share, with estimates ranging from $16.90 million to $28.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.03). Arena Pharmaceuticals had a negative return on equity of 49.87% and a negative net margin of 16.27%. The firm had revenue of $6.49 million during the quarter, compared to the consensus estimate of $5.58 million. During the same quarter last year, the company posted ($1.10) EPS. Arena Pharmaceuticals’s revenue for the quarter was down 31.8% on a year-over-year basis.

A number of brokerages have weighed in on ARNA. Citigroup Inc. boosted their target price on shares of Arena Pharmaceuticals from $23.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $19.00 target price (up from $15.00) on shares of Arena Pharmaceuticals in a research note on Wednesday, July 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. BidaskClub downgraded shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Arena Pharmaceuticals in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.00.

Arena Pharmaceuticals (ARNA) opened at 25.99 on Monday. The company’s market capitalization is $1.02 billion. The stock has a 50 day moving average of $23.88 and a 200 day moving average of $18.35. Arena Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $27.86.

WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/09/zacks-brokerages-anticipate-arena-pharmaceuticals-inc-arna-will-post-quarterly-sales-of-4-39-million.html.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of Arena Pharmaceuticals by 2.4% in the first quarter. Wellington Management Group LLP now owns 23,583,115 shares of the biopharmaceutical company’s stock worth $34,432,000 after acquiring an additional 547,663 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Arena Pharmaceuticals by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,905,389 shares of the biopharmaceutical company’s stock worth $29,063,000 after acquiring an additional 910,434 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Arena Pharmaceuticals by 12.7% in the first quarter. Renaissance Technologies LLC now owns 8,479,445 shares of the biopharmaceutical company’s stock worth $12,380,000 after acquiring an additional 957,190 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Arena Pharmaceuticals by 6.8% in the first quarter. Geode Capital Management LLC now owns 1,876,137 shares of the biopharmaceutical company’s stock worth $2,739,000 after acquiring an additional 119,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Arena Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 1,181,899 shares of the biopharmaceutical company’s stock worth $1,725,000 after acquiring an additional 10,446 shares during the last quarter. 46.21% of the stock is owned by institutional investors.

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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