Arena Pharmaceuticals, Inc. (ARNA) Receives Average Rating of “Buy” from Brokerages

Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $58.00.

Several analysts recently weighed in on ARNA shares. BidaskClub upgraded shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Wells Fargo upgraded shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price objective on shares of Arena Pharmaceuticals in a research report on Wednesday, January 17th. Finally, Leerink Swann reiterated a “positive” rating and issued a $56.00 price objective (up from $53.00) on shares of Arena Pharmaceuticals in a research report on Wednesday, January 17th.

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NASDAQ:ARNA traded down $0.60 during mid-day trading on Wednesday, hitting $39.09. The stock had a trading volume of 567,138 shares, compared to its average volume of 1,241,109. The company has a market cap of $1,896.42, a PE ratio of -14.90 and a beta of 1.48. Arena Pharmaceuticals has a 52 week low of $11.30 and a 52 week high of $45.85. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 0.28.



Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.30. The firm had revenue of $15.40 million for the quarter, compared to the consensus estimate of $5.75 million. Arena Pharmaceuticals had a negative net margin of 250.93% and a negative return on equity of 62.82%. Arena Pharmaceuticals’s quarterly revenue was down 77.8% compared to the same quarter last year. During the same period last year, the firm posted $1.60 EPS. equities analysts anticipate that Arena Pharmaceuticals will post -2.74 EPS for the current year.

In other Arena Pharmaceuticals news, EVP Steven W. Spector sold 30,001 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $34.57, for a total transaction of $1,037,134.57. Following the transaction, the executive vice president now owns 34,691 shares of the company’s stock, valued at approximately $1,199,267.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.88% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its stake in Arena Pharmaceuticals by 7.3% during the 4th quarter. Teachers Advisors LLC now owns 404,528 shares of the biopharmaceutical company’s stock valued at $13,742,000 after buying an additional 27,348 shares during the period. Geode Capital Management LLC grew its stake in shares of Arena Pharmaceuticals by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 351,181 shares of the biopharmaceutical company’s stock worth $11,929,000 after purchasing an additional 12,186 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Arena Pharmaceuticals by 12.7% in the 4th quarter. Macquarie Group Ltd. now owns 225,400 shares of the biopharmaceutical company’s stock worth $7,657,000 after purchasing an additional 25,400 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Arena Pharmaceuticals by 16.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 209,085 shares of the biopharmaceutical company’s stock worth $7,103,000 after purchasing an additional 29,732 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Arena Pharmaceuticals by 112.4% in the 4th quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock worth $6,284,000 after purchasing an additional 97,934 shares during the last quarter. 60.03% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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