Arena Pharmaceuticals (NASDAQ:ARNA) Rating Reiterated by Leerink Swann

Leerink Swann reissued their positive rating on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a report released on Wednesday, January 17th, The Fly reports. They currently have a $56.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $53.00. Leerink Swann also issued estimates for Arena Pharmaceuticals’ Q1 2018 earnings at ($0.72) EPS, Q2 2018 earnings at ($0.72) EPS, Q3 2018 earnings at ($0.74) EPS, Q4 2018 earnings at ($0.74) EPS, FY2019 earnings at ($3.05) EPS and FY2020 earnings at ($3.43) EPS.

A number of other equities analysts have also recently weighed in on ARNA. Cantor Fitzgerald reaffirmed a buy rating and set a $37.00 price target on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. BidaskClub raised shares of Arena Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Saturday, December 2nd. Wells Fargo & Co raised shares of Arena Pharmaceuticals from a market perform rating to an outperform rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Arena Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Arena Pharmaceuticals presently has a consensus rating of Buy and an average price target of $38.38.

Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded up $0.63 on Wednesday, reaching $40.34. 525,319 shares of the company’s stock traded hands, compared to its average volume of 651,771. The company has a quick ratio of 4.32, a current ratio of 4.42 and a debt-to-equity ratio of 0.27. Arena Pharmaceuticals has a 12 month low of $11.30 and a 12 month high of $41.92. The firm has a market cap of $1,580.00, a PE ratio of -42.91 and a beta of 1.64.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARNA. American Century Companies Inc. purchased a new position in Arena Pharmaceuticals in the second quarter valued at approximately $403,000. JPMorgan Chase & Co. raised its holdings in Arena Pharmaceuticals by 16,992.7% in the second quarter. JPMorgan Chase & Co. now owns 317,754 shares of the biopharmaceutical company’s stock valued at $5,361,000 after buying an additional 315,895 shares during the period. GSA Capital Partners LLP purchased a new position in Arena Pharmaceuticals in the second quarter valued at approximately $1,677,000. Balyasny Asset Management LLC purchased a new position in Arena Pharmaceuticals in the second quarter valued at approximately $12,183,000. Finally, DAFNA Capital Management LLC purchased a new position in Arena Pharmaceuticals in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 72.49% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Arena Pharmaceuticals (NASDAQ:ARNA) Rating Reiterated by Leerink Swann” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/13/arena-pharmaceuticals-arna-positive-rating-reiterated-at-leerink-swann.html.

Arena Pharmaceuticals Company Profile

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).

The Fly

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.

Leave a Reply