Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) have earned an average rating of “Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $62.88.

Several equities analysts recently weighed in on the company. BidaskClub raised Arena Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 19th. ValuEngine raised Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 2nd. Cantor Fitzgerald set a $65.00 price objective on Arena Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, September 24th. Finally, Credit Suisse Group cut their price objective on Arena Pharmaceuticals from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th.

NASDAQ ARNA opened at $39.88 on Wednesday. Arena Pharmaceuticals has a twelve month low of $24.33 and a twelve month high of $50.05. The company has a quick ratio of 28.76, a current ratio of 28.76 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.27 billion, a P/E ratio of -15.16 and a beta of 1.55.

Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings data on Monday, August 6th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.01). Arena Pharmaceuticals had a negative return on equity of 25.90% and a negative net margin of 377.94%. The business had revenue of $4.00 million for the quarter, compared to analyst estimates of $3.91 million. During the same period in the prior year, the firm posted ($0.77) EPS. Arena Pharmaceuticals’s revenue for the quarter was up 110.5% on a year-over-year basis. As a group, analysts expect that Arena Pharmaceuticals will post -2.86 EPS for the current year.

In other Arena Pharmaceuticals news, EVP Steven W. Spector sold 29,005 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $36.01, for a total value of $1,044,470.05. Following the completion of the transaction, the executive vice president now owns 48,695 shares of the company’s stock, valued at approximately $1,753,506.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.92% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its holdings in Arena Pharmaceuticals by 9.0% in the 2nd quarter. Northern Trust Corp now owns 592,445 shares of the biopharmaceutical company’s stock valued at $25,831,000 after acquiring an additional 48,671 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Arena Pharmaceuticals by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 243,007 shares of the biopharmaceutical company’s stock valued at $10,594,000 after acquiring an additional 17,541 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Arena Pharmaceuticals by 414.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,583 shares of the biopharmaceutical company’s stock valued at $636,000 after acquiring an additional 11,747 shares in the last quarter. California Public Employees Retirement System raised its holdings in Arena Pharmaceuticals by 23.1% in the 2nd quarter. California Public Employees Retirement System now owns 71,346 shares of the biopharmaceutical company’s stock valued at $3,111,000 after acquiring an additional 13,374 shares in the last quarter. Finally, Partner Fund Management L.P. acquired a new position in Arena Pharmaceuticals in the 2nd quarter valued at approximately $52,184,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. Its proprietary investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod that is in Phase II trials for treating immune and inflammatory conditions with primary focus on ulcerative colitis and hepatic conditions, as well as for primary biliary cholangitis and pyoderma gangrenosum; and APD371, which is in Phase II trial for the treatment of pain associated with Crohn's disease.

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Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

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