Arena Pharmaceuticals (ARNA) Cut to Buy at BidaskClub

Arena Pharmaceuticals (NASDAQ:ARNA) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, January 16th.

Several other research firms have also issued reports on ARNA. Zacks Investment Research lowered Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Wells Fargo & Co upgraded Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $37.00 price target on shares of Arena Pharmaceuticals in a research report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $38.38.

Arena Pharmaceuticals (NASDAQ ARNA) opened at $39.71 on Tuesday. The company has a current ratio of 4.42, a quick ratio of 4.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1,559.13, a PE ratio of -42.70 and a beta of 1.64. Arena Pharmaceuticals has a 1 year low of $11.30 and a 1 year high of $41.92.

Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can grew its position in shares of Arena Pharmaceuticals by 128.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 2,466 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Arena Pharmaceuticals in the 3rd quarter valued at approximately $174,000. B. Riley Financial Inc. purchased a new position in shares of Arena Pharmaceuticals in the 3rd quarter valued at approximately $204,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Arena Pharmaceuticals in the 3rd quarter valued at approximately $252,000. Finally, DAFNA Capital Management LLC purchased a new position in shares of Arena Pharmaceuticals in the 2nd quarter valued at approximately $262,000. Hedge funds and other institutional investors own 72.39% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://stocknewstimes.com/2018/02/11/bidaskclub-lowers-arena-pharmaceuticals-arna-to-buy.html.

About Arena Pharmaceuticals

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).

Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

Receive News & Ratings for Arena Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arena Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply