BidaskClub Lowers Arena Pharmaceuticals (ARNA) to Sell

BidaskClub downgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a hold rating to a sell rating in a research note released on Tuesday morning.

Other equities analysts have also issued reports about the company. ValuEngine lowered Arena Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, March 14th. Needham & Company LLC reiterated a hold rating on shares of Arena Pharmaceuticals in a research report on Wednesday, March 14th. Zacks Investment Research upgraded Arena Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, March 9th. Citigroup increased their price objective on Arena Pharmaceuticals from $37.00 to $55.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, JMP Securities increased their price objective on Arena Pharmaceuticals from $36.00 to $63.00 and gave the company an outperform rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Arena Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $51.38.

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Shares of Arena Pharmaceuticals (ARNA) opened at $39.75 on Tuesday. Arena Pharmaceuticals has a 1-year low of $11.30 and a 1-year high of $44.50. The firm has a market capitalization of $1,241.55, a PE ratio of -13.80 and a beta of 1.51. 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 released its quarterly earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $15.40 million for the quarter, compared to analysts’ expectations of $5.75 million. During the same quarter last year, the firm posted $1.60 EPS. The company’s revenue was down 77.8% compared to the same quarter last year. equities research analysts forecast that Arena Pharmaceuticals will post -2.73 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC grew its position in Arena Pharmaceuticals by 7.3% during the 4th quarter. Teachers Advisors LLC now owns 404,528 shares of the biopharmaceutical company’s stock worth $13,742,000 after acquiring an additional 27,348 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Arena Pharmaceuticals during the 3rd quarter worth approximately $9,973,000. Geode Capital Management LLC grew its position in Arena Pharmaceuticals by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 351,181 shares of the biopharmaceutical company’s stock worth $11,929,000 after acquiring an additional 12,186 shares during the last quarter. Macquarie Group Ltd. grew its position in Arena Pharmaceuticals by 12.7% during the 4th quarter. Macquarie Group Ltd. now owns 225,400 shares of the biopharmaceutical company’s stock worth $7,657,000 after acquiring an additional 25,400 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Arena Pharmaceuticals by 16.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 209,085 shares of the biopharmaceutical company’s stock worth $7,103,000 after acquiring an additional 29,732 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.

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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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