ARNA has been the subject of a number of other reports. TheStreet lowered Arena Pharmaceuticals from a b rating to a c+ rating in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated a buy rating and issued a $79.00 price objective on shares of Arena Pharmaceuticals in a research report on Sunday, August 11th. ValuEngine lowered Arena Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, August 8th. Zacks Investment Research lowered Arena Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, May 15th. Finally, Cantor Fitzgerald reiterated a buy rating on shares of Arena Pharmaceuticals in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $63.67.
Arena Pharmaceuticals stock opened at $53.73 on Wednesday. The stock has a 50-day simple moving average of $59.58 and a 200 day simple moving average of $52.67. The company has a quick ratio of 36.51, a current ratio of 36.51 and a debt-to-equity ratio of 0.04. Arena Pharmaceuticals has a 12-month low of $31.97 and a 12-month high of $64.48. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 6.10 and a beta of 1.42.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported ($1.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.02) by ($0.22). The firm had revenue of $1.02 million during the quarter, compared to analyst estimates of $2.91 million. Arena Pharmaceuticals had a return on equity of 53.92% and a net margin of 72.84%. Arena Pharmaceuticals’s revenue for the quarter was down 74.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.65) earnings per share. As a group, sell-side analysts anticipate that Arena Pharmaceuticals will post 8.83 EPS for the current year.
In related news, Director Jayson Donald Alexander Dallas sold 1,525 shares of Arena Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $55.90, for a total value of $85,247.50. Following the completion of the sale, the director now directly owns 5,704 shares in the company, valued at $318,853.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.73% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of ARNA. BlackRock Inc. grew its position in shares of Arena Pharmaceuticals by 0.8% in the 2nd quarter. BlackRock Inc. now owns 4,795,930 shares of the biopharmaceutical company’s stock valued at $281,185,000 after purchasing an additional 38,756 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Arena Pharmaceuticals by 6.4% in the 2nd quarter. Chartwell Investment Partners LLC now owns 60,137 shares of the biopharmaceutical company’s stock valued at $3,526,000 after purchasing an additional 3,604 shares during the period. Orbimed Advisors LLC acquired a new position in shares of Arena Pharmaceuticals in the 2nd quarter valued at approximately $6,449,000. Primecap Management Co. CA grew its position in shares of Arena Pharmaceuticals by 4.3% in the 2nd quarter. Primecap Management Co. CA now owns 1,525,200 shares of the biopharmaceutical company’s stock valued at $89,422,000 after purchasing an additional 63,000 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Arena Pharmaceuticals by 27.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 887 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 193 shares during the period. Institutional investors own 82.68% of the company’s stock.
About Arena Pharmaceuticals
Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on providing novel medicines with pharmacology and pharmacokinetics to patients worldwide. Its investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod (APD334) for ulcerative colitis, and Crohn's disease, as well as for atopic dermatitis and other indications; and Olorinab (APD371), which is in Phase II trial for the treatment of gastrointestinal pain.
Further Reading: Hold Rating
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