Arena Pharmaceuticals, Inc. is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ARNA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Arena Pharmaceuticals could be a solid choice for investors.
Current Quarter Estimates for ARNA
In the past 30 days, one estimate has gone higher for Arena Pharmaceuticals while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 75 cents a share 30 days ago, to a loss of 67 cents today, a move of 10.7%.
Current Year Estimates for ARNA
Meanwhile, Arena Pharmaceuticals’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of $3.22 per share 30 days ago to a loss of $2.93 per share today, an increase of 9%.
Arena Pharmaceuticals, Inc. Price and Consensus
Bottom Line
The stock has also started to move higher lately, adding 15.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Why Arena Pharmaceuticals (ARNA) Could Be Positioned for a Surge
Arena Pharmaceuticals, Inc. is a biopharmaceutical company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ARNA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Arena Pharmaceuticals could be a solid choice for investors.
Current Quarter Estimates for ARNA
In the past 30 days, one estimate has gone higher for Arena Pharmaceuticals while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 75 cents a share 30 days ago, to a loss of 67 cents today, a move of 10.7%.
Current Year Estimates for ARNA
Meanwhile, Arena Pharmaceuticals’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of $3.22 per share 30 days ago to a loss of $2.93 per share today, an increase of 9%.
Arena Pharmaceuticals, Inc. Price and Consensus
Arena Pharmaceuticals, Inc. Price and Consensus | Arena Pharmaceuticals, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 15.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
Click here for a peek at this private information>>