Arena Pharmaceuticals (NASDAQ:ARNA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other research analysts have also commented on ARNA. Needham & Company LLC restated a “hold” rating on shares of Arena Pharmaceuticals in a research note on Wednesday. BidaskClub lowered shares of Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Citigroup increased their price target on shares of Arena Pharmaceuticals from $37.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Leerink Swann restated a “positive” rating and set a $56.00 price target (up previously from $53.00) on shares of Arena Pharmaceuticals in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Arena Pharmaceuticals has an average rating of “Buy” and a consensus target price of $45.13.
Arena Pharmaceuticals (NASDAQ:ARNA) opened at $33.01 on Wednesday. Arena Pharmaceuticals has a 12 month low of $11.30 and a 12 month high of $44.50. The company has a market cap of $1,300.00, a price-to-earnings ratio of -12.75 and a beta of 1.51. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.30. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The company had revenue of $15.40 million for the quarter, compared to analyst estimates of $5.75 million. During the same quarter in the prior year, the business posted $1.60 EPS. Arena Pharmaceuticals’s quarterly revenue was down 77.8% on a year-over-year basis. research analysts forecast that Arena Pharmaceuticals will post -3.13 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ARNA. Point72 Asset Management L.P. bought a new stake in shares of Arena Pharmaceuticals during the 3rd quarter worth $9,973,000. Macquarie Group Ltd. bought a new stake in shares of Arena Pharmaceuticals during the 3rd quarter worth $5,100,000. Deutsche Bank AG boosted its holdings in shares of Arena Pharmaceuticals by 112.4% during the 4th quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock worth $6,284,000 after buying an additional 97,934 shares during the period. EAM Investors LLC bought a new stake in shares of Arena Pharmaceuticals during the 3rd quarter worth $2,408,000. Finally, ClariVest Asset Management LLC bought a new stake in shares of Arena Pharmaceuticals during the 3rd quarter worth $2,156,000. 73.31% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “ValuEngine Downgrades Arena Pharmaceuticals (ARNA) to Sell” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/03/16/valuengine-downgrades-arena-pharmaceuticals-arna-to-sell.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).
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.