Arena Pharmaceuticals first quarter earnings preview

Arena is scheduled to announce its first quarter of fiscal year 2015 earnings on Monday May 11.

Arena Pharmaceuticals is all set to report its first quarter earnings for fiscal year 2015 today, May 11.  Analysts have estimated the earnings to be around 14 cents per share and revenue to be around $10.56 million for the period covering January to March. The company’s performance has not been up to the mark last year as it missed earnings forecast in three of its last four quarters. However, the mean earnings surprise in the last four quarters stood at +4.27%.

The biopharmaceutical firm previously announced its quarterly earnings on Monday March 2^nd. In which, the company was able to report 15 cents in earnings per share surpassing analyst projection of 12 cents by 3 cents. The company had $9.20 million in revenue for the fourth quarter of fiscal year 2014 against $10.36 million estimated by analysts. During the similar quarter last year, Arena reported earnings of 11 cents per share and its revenue was up by 41.5% on year over year basis. On the whole, the analysts believe the company to report full year earnings per share of 52 cents and 40 cents for the upcoming fiscal year. 

On Friday May 8, Arena Pharmaceuticals stock opened at $4.18 and witnessed 2.17% upward movement and reached $4.24 before the market close. The company has 1 year low and high of $3.26 and $7.17, respectively. The stock of Arena has 50 and 200 day moving average of $4 along with $1.02 billion of market capitalization.

The company is taking on challenges of enhancing health by looking to bring groundbreaking medicines aiming G protein coupled receptors. Arena Pharmaceutical emphasize on developing, discovering and commercializing drugs to report needs of medical, and BELVIQ is company’s first internally revealed drug, which is permitted for marketing. The company’s operations are situated in San Diego, California and it’s Outside the country operations including its commercial making are situated in Switzerland.

Zacks analysts downgraded Arena Pharmaceuticals shares to an under perform from previous rating of neutral and assigned $4 price target to the company’s stock on Friday. Out of the analysts covering Arena’s stock, 2 of them have given sell rating; one gave hold rating while 3 of them assigned a rating of Buy to the stock of the company.