Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Research analysts at Leerink Swann issued their Q1 2018 EPS estimates for shares of Arena Pharmaceuticals in a note issued to investors on Wednesday. Leerink Swann analyst J. Schwartz forecasts that the biopharmaceutical company will post earnings of ($0.72) per share for the quarter. Leerink Swann currently has a “Positive” rating and a $56.00 target price 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.
Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $45.00 target price on shares of Arena Pharmaceuticals in a report on Wednesday. BidaskClub cut shares of Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 16th. Wells Fargo & Co raised shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Credit Suisse Group started coverage on shares of Arena Pharmaceuticals in a report on Wednesday. They issued an “outperform” rating and a $44.00 target price for the company. Finally, Zacks Investment Research cut shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.38.
Arena Pharmaceuticals (NASDAQ ARNA) opened at $35.60 on Friday. The company has a market cap of $1,460.00, a PE ratio of -37.87 and a beta of 1.49. The company has a quick ratio of 4.32, a current ratio of 4.42 and a debt-to-equity ratio of 0.27. Arena Pharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $41.92.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.01. The firm had revenue of $7.95 million during the quarter, compared to analysts’ expectations of $5.48 million. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The business’s revenue for the quarter was down 58.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can raised its holdings in Arena Pharmaceuticals by 128.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 2,466 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at approximately $174,000. B. Riley Financial Inc. bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at approximately $204,000. State Board of Administration of Florida Retirement System bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at approximately $252,000. Finally, DAFNA Capital Management LLC bought a new position in Arena Pharmaceuticals in the 2nd quarter valued at approximately $262,000. Institutional investors and hedge funds own 72.82% of the company’s stock.
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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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