Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Expected to Post Q1 2018 Earnings of ($0.72) Per Share

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Leerink Swann issued their Q1 2018 EPS estimates for shares of Arena Pharmaceuticals in a report released on Wednesday, according to Zacks Investment Research. Leerink Swann analyst J. Schwartz forecasts that the biopharmaceutical company will post earnings per share of ($0.72) for the quarter. Leerink Swann has a “Positive” rating and a $56.00 price objective on the stock. Leerink Swann also issued estimates for Arena Pharmaceuticals’ Q2 2018 earnings at ($0.72) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.74) EPS, FY2019 earnings at ($3.05) EPS and FY2020 earnings at ($3.43) EPS.

A number of other research firms have also recently commented on ARNA. Credit Suisse Group started coverage on Arena Pharmaceuticals in a research note on Wednesday, January 17th. They set an “outperform” rating and a $44.00 target price on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price target on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. BidaskClub upgraded Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 2nd. Zacks Investment Research lowered Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, ValuEngine upgraded Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Arena Pharmaceuticals has an average rating of “Buy” and a consensus price target of $38.38.

Arena Pharmaceuticals (NASDAQ ARNA) traded up $1.31 on Friday, hitting $39.71. The stock had a trading volume of 537,165 shares, compared to its average volume of 567,335. The company has a market capitalization of $1,559.13, a PE ratio of -42.70 and a beta of 1.64. Arena Pharmaceuticals has a 1 year low of $11.30 and a 1 year high of $41.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42.

A number of institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System lifted its holdings in Arena Pharmaceuticals by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 51,400 shares of the biopharmaceutical company’s stock worth $1,746,000 after buying an additional 1,700 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Arena Pharmaceuticals by 128.2% during the third quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 2,466 shares during the period. Swiss National Bank lifted its holdings in Arena Pharmaceuticals by 4.9% during the fourth quarter. Swiss National Bank now owns 66,730 shares of the biopharmaceutical company’s stock worth $2,267,000 after buying an additional 3,100 shares during the period. Legal & General Group Plc lifted its holdings in Arena Pharmaceuticals by 46.8% during the third quarter. Legal & General Group Plc now owns 10,356 shares of the biopharmaceutical company’s stock worth $264,000 after buying an additional 3,302 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Arena Pharmaceuticals by 12.9% during the third quarter. Rhumbline Advisers now owns 40,771 shares of the biopharmaceutical company’s stock worth $1,040,000 after buying an additional 4,657 shares during the period. Institutional investors own 72.39% of the company’s stock.

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About Arena Pharmaceuticals

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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