Arena Pharmaceuticals, Inc. (ARNA) Expected to Post Quarterly Sales of $4.43 Million
Equities analysts forecast that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will report $4.43 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Arena Pharmaceuticals’ earnings, with estimates ranging from $4.00 million to $4.86 million. Arena Pharmaceuticals posted sales of $85.37 million during the same quarter last year, which suggests a negative year over year growth rate of 94.8%. The firm is expected to announce its next quarterly earnings results on Tuesday, March 13th.
On average, analysts expect that Arena Pharmaceuticals will report full year sales of $4.43 million for the current year, with estimates ranging from $25.10 million to $30.00 million. For the next financial year, analysts forecast that the firm will post sales of $24.11 million per share, with estimates ranging from $18.00 million to $28.33 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Arena Pharmaceuticals.
Several equities analysts have recently commented on the stock. ValuEngine upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. BidaskClub upgraded shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Credit Suisse Group assumed coverage on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. They set an “outperform” rating and a $44.00 price target on the stock. Leerink Swann restated a “positive” rating and set a $56.00 price target (up from $53.00) on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $45.00 price target on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. One 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. The company currently has an average rating of “Buy” and an average price target of $38.38.
Arena Pharmaceuticals (NASDAQ:ARNA) traded up $0.03 during trading on Monday, hitting $40.80. 364,524 shares of the stock traded hands, compared to its average volume of 597,891. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. Arena Pharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $41.92. The stock has a market cap of $1,600.00, a PE ratio of -43.40 and a beta of 1.64.
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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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