ValuEngine lowered shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a hold rating to a sell rating in a report issued on Wednesday, March 14th.
A number of other brokerages have also issued reports on ARNA. Credit Suisse Group started coverage on shares of Arena Pharmaceuticals in a research note on Wednesday, January 17th. They set an outperform rating and a $44.00 price target on the stock. Cantor Fitzgerald restated a buy rating and set a $45.00 price target on shares of Arena Pharmaceuticals in a research note on Wednesday, January 17th. BidaskClub upgraded shares of Arena Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Saturday, December 2nd. Zacks Investment Research lowered shares of Arena Pharmaceuticals from a hold rating to a sell rating in a research note on Wednesday, January 10th. Finally, Needham & Company LLC reiterated a hold rating on shares of Arena Pharmaceuticals in a research note on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $52.25.
Arena Pharmaceuticals (ARNA) opened at $41.18 on Wednesday. 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 has a 52 week low of $11.30 and a 52 week high of $45.85.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.30. Arena Pharmaceuticals had a negative net margin of 250.93% and a negative return on equity of 62.82%. The business 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 revenue for the quarter was down 77.8% compared to the same quarter last year. sell-side analysts forecast that Arena Pharmaceuticals will post -2.74 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in ARNA. Point72 Asset Management L.P. acquired a new stake in shares of Arena Pharmaceuticals in the third quarter worth $9,973,000. Macquarie Group Ltd. acquired a new stake in Arena Pharmaceuticals during the third quarter valued at $5,100,000. Deutsche Bank AG grew its position in Arena Pharmaceuticals by 112.4% during the fourth quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock valued at $6,284,000 after buying an additional 97,934 shares during the period. EAM Investors LLC acquired a new stake in Arena Pharmaceuticals during the third quarter valued at $2,408,000. Finally, ClariVest Asset Management LLC acquired a new stake in Arena Pharmaceuticals during the third quarter valued at $2,156,000. Hedge funds and other institutional investors own 73.31% of the company’s stock.
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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).
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