Arena Pharmaceuticals (ARNA) Releases Earnings Results, Beats Expectations By $0.02 EPS

Arena Pharmaceuticals (ARNA) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $-0.09 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.11. The company posted revenue of $9.85 million in the period, compared to analysts expectations of $9.02 million. The company’s revenue was down -19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Arena Pharmaceuticals. Shares were Reiterated by RBC Capital Mkts on Mar 1, 2016 to “Sector Perform” and Lowered the Price Target to $ 1.50 from a previous price target of $2 .

Arena Pharmaceuticals closed down -0.015 points or -0.95% at $1.56 with 19,19,978 shares getting traded on Friday. Post opening the session at $1.55, the shares hit an intraday low of $1.55 and an intraday high of $1.61 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Apr 1, 2015, Randall E Woods (director) sold 76,268 shares at $4.49 per share price. According to the SEC, on Mar 18, 2015, Steven W Spector (EVP, General Counsel & Sec) sold 70,000 shares at $5.00 per share price. On Jan 8, 2015, William R Jr Shanahan (SVP & Chief Medical Officer) sold 50,000 shares at $5.49 per share price, according to the Form-4 filing with the securities and exchange commission.

Arena Pharmaceuticals Inc. is a biopharmaceutical company focused on discovering developing and commercializing drugs that target G protein-coupled receptors (GPCRs). The Company’s drug BELVIQ (lorcaserin HCl) was approved by the United States Food and Drug Administration for marketing in the United States. In addition to BELVIQ the Company has other drug candidates and compounds at various stages of research and development. The Company is exploring lorcaserin’s once-a-day extended release formulation as an aid to smoking cessation in combination with phentermine and other agents for weight management and for other possible indications. The Company’s other drug candidates include ralinepag for vascular diseases APD334 for autoimmune diseases APD371 for pain and fibrotic diseases and temanogrel for thrombotic diseases.

Arena Pharmaceuticals

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