Arena Pharmaceuticals, Inc. (ARNA) EVP Steven W. Spector Sells 30,001 Shares of Stock

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) EVP Steven W. Spector sold 30,001 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 34,691 shares in the company, valued at $1,199,267.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

NASDAQ ARNA opened at $39.15 on Thursday. Arena Pharmaceuticals, Inc. has a 52-week low of $11.30 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 3.89. The company has a market cap of $1,769.32, a P/E ratio of -14.89 and a beta of 1.49.

How to Become a New Pot Stock Millionaire

Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.30. Arena Pharmaceuticals had a negative return on equity of 62.82% and a negative net margin of 250.93%. The business had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $5.75 million. During the same period in the prior year, the business earned $1.60 EPS. Arena Pharmaceuticals’s revenue for the quarter was down 77.8% compared to the same quarter last year. sell-side analysts expect that Arena Pharmaceuticals, Inc. will post -2.74 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its stake in Arena Pharmaceuticals by 3.4% during the 4th quarter. California Public Employees Retirement System now owns 51,400 shares of the biopharmaceutical company’s stock worth $1,746,000 after purchasing an additional 1,700 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Arena Pharmaceuticals by 128.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 2,466 shares in the last quarter. Swiss National Bank increased its stake in Arena Pharmaceuticals by 4.9% during the 4th quarter. Swiss National Bank now owns 66,730 shares of the biopharmaceutical company’s stock worth $2,267,000 after purchasing an additional 3,100 shares in the last quarter. Legal & General Group Plc increased its stake in Arena Pharmaceuticals by 46.8% during the 3rd quarter. Legal & General Group Plc now owns 10,356 shares of the biopharmaceutical company’s stock worth $264,000 after purchasing an additional 3,302 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Arena Pharmaceuticals by 10.8% during the 3rd quarter. California State Teachers Retirement System now owns 62,932 shares of the biopharmaceutical company’s stock worth $1,605,000 after purchasing an additional 6,136 shares in the last quarter. 60.24% of the stock is owned by institutional investors and hedge funds.

ARNA has been the topic of a number of analyst reports. BidaskClub upgraded shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 27th. Citigroup increased their price target on shares of Arena Pharmaceuticals from $37.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price target on shares of Arena Pharmaceuticals in a research report on Wednesday, January 17th. Zacks Investment Research upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, JMP Securities increased their price target on shares of Arena Pharmaceuticals from $36.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.13.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/19/arena-pharmaceuticals-inc-arna-evp-steven-w-spector-sells-30001-shares-of-stock.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.

Leave a Reply