Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Expected to Post Earnings of -$2.41 Per Share

Brokerages expect Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to announce earnings per share of ($2.41) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Arena Pharmaceuticals’ earnings. The highest EPS estimate is ($2.32) and the lowest is ($2.52). Arena Pharmaceuticals reported earnings of ($2.10) per share in the same quarter last year, which would suggest a negative year over year growth rate of 14.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 22nd.

Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Arena Pharmaceuticals.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its quarterly earnings data on Thursday, November 4th. The biopharmaceutical company reported ($3.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.53) by ($0.68). During the same quarter in the previous year, the company earned ($1.69) EPS.

A number of analysts recently issued reports on the stock. SVB Leerink downgraded shares of Arena Pharmaceuticals from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $112.00 to $100.00 in a report on Tuesday, December 14th. Cantor Fitzgerald lowered shares of Arena Pharmaceuticals from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $93.00 to $100.00 in a research report on Monday, December 20th. HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Arena Pharmaceuticals in a research report on Thursday, September 30th. Royal Bank of Canada lowered shares of Arena Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $76.00 to $100.00 in a research report on Tuesday, December 14th. Finally, Wells Fargo & Company downgraded shares of Arena Pharmaceuticals from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, December 14th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Arena Pharmaceuticals currently has an average rating of “Hold” and an average target price of $97.29.

Shares of ARNA stock opened at $92.65 on Monday. Arena Pharmaceuticals has a one year low of $45.50 and a one year high of $94.23. The firm has a 50-day moving average of $74.50 and a 200-day moving average of $64.91. The company has a current ratio of 14.82, a quick ratio of 14.82 and a debt-to-equity ratio of 0.05.

Several institutional investors have recently made changes to their positions in ARNA. Teachers Retirement System of The State of Kentucky boosted its position in Arena Pharmaceuticals by 9.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 84,018 shares of the biopharmaceutical company’s stock valued at $5,003,000 after purchasing an additional 7,221 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Arena Pharmaceuticals in the second quarter worth about $9,962,000. Tudor Investment Corp Et Al acquired a new stake in shares of Arena Pharmaceuticals during the second quarter worth about $1,956,000. AXA S.A. acquired a new stake in shares of Arena Pharmaceuticals during the second quarter worth about $368,000. Finally, FORA Capital LLC purchased a new position in Arena Pharmaceuticals during the second quarter valued at approximately $324,000. Hedge funds and other institutional investors own 91.22% of the company’s stock.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel drugs that target G protien-coupled receptors. It offers drugs for treatment in the field of cardiovascular, central nervous system, inflammatory, and metabolic diseases.

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

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