Arena Pharmaceuticals Inc. (NASDAQ:ARNA) – Analysts at FBR & Co issued their Q3 2016 earnings per share estimates for Arena Pharmaceuticals in a report released on Wednesday. FBR & Co analyst C. James anticipates that the firm will post earnings per share of ($0.07) for the quarter. FBR & Co currently has a “Outperform” rating and a $6.00 target price on the stock. FBR & Co also issued estimates for Arena Pharmaceuticals’ Q4 2016 earnings at ($0.07) EPS, FY2016 earnings at ($0.33) EPS, FY2017 earnings at ($0.33) EPS, FY2018 earnings at ($0.61) EPS, FY2019 earnings at ($0.92) EPS and FY2020 earnings at ($0.58) EPS.

Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. Arena Pharmaceuticals had a negative net margin of 291.35% and a negative return on equity of 226.09%. The business earned $9.50 million during the quarter, compared to analysts’ expectations of $10.44 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. Arena Pharmaceuticals’s revenue for the quarter was up 3.3% on a year-over-year basis.

A number of other equities analysts also recently commented on ARNA. Zacks Investment Research downgraded shares of Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Needham & Company LLC restated a “hold” rating on shares of Arena Pharmaceuticals in a research note on Saturday, August 13th. JPMorgan Chase & Co. restated a “hold” rating on shares of Arena Pharmaceuticals in a research note on Monday, August 8th. Finally, Jefferies Group restated a “buy” rating on shares of Arena Pharmaceuticals in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.31.

Arena Pharmaceuticals (NASDAQ:ARNA) opened at 1.69 on Monday. The company has a 50 day moving average price of $1.63 and a 200 day moving average price of $1.71. The stock’s market cap is $411.10 million. Arena Pharmaceuticals has a 52 week low of $1.30 and a 52 week high of $2.68.

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Arena Pharmaceuticals by 7.0% in the first quarter. Wellington Management Group LLP now owns 26,772,026 shares of the biopharmaceutical company’s stock valued at $52,741,000 after buying an additional 1,741,275 shares during the period. Vanguard Group Inc. increased its stake in shares of Arena Pharmaceuticals by 7.4% in the second quarter. Vanguard Group Inc. now owns 18,272,025 shares of the biopharmaceutical company’s stock valued at $31,246,000 after buying an additional 1,255,448 shares during the period. BlackRock Fund Advisors increased its stake in shares of Arena Pharmaceuticals by 6.8% in the second quarter. BlackRock Fund Advisors now owns 9,550,942 shares of the biopharmaceutical company’s stock valued at $16,332,000 after buying an additional 609,863 shares during the period. Geode Capital Management LLC increased its stake in shares of Arena Pharmaceuticals by 8.0% in the first quarter. Geode Capital Management LLC now owns 1,672,885 shares of the biopharmaceutical company’s stock valued at $3,295,000 after buying an additional 123,650 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Arena Pharmaceuticals by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 1,141,792 shares of the biopharmaceutical company’s stock valued at $1,953,000 after buying an additional 7,685 shares during the period. Institutional investors and hedge funds own 48.41% of the company’s stock.

About Arena Pharmaceuticals

Arena Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing small molecule drugs that target G protein-coupled receptors (GPCRs). The Company’s drug, Lorcaserin, is approved for marketing in the United States and South Korea for the indication of weight management, and is being commercialized under the brand name, BELVIQ.

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