Arena Pharmaceuticals, Inc. (ARNA) Downgraded by BidaskClub

Patrice Gainsbourg
Julho 29, 2017

A number of other equities research analysts have also issued reports on the company. Leerink Swann initiated coverage on shares of Arena Pharmaceuticals in a research report on Friday, May 19th. Wells Fargo & Company reissued a market perform rating and set a $19.00 price target (up from $15.00) on shares of Arena Pharmaceuticals in a report on Wednesday, July 12th. ValuEngine raised Arena Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, June 21st. The original version of this news story can be accessed at https://weekherald.com/2017/07/26/arena-pharmaceuticals-inc-nasdaqarna-rating-lowered-to-sell-at-bidaskclub.html. Zacks Investment Research lowered Arena Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, June 29th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald began coverage on Arena Pharmaceuticals in a research report on Thursday, June 15th. They set an outperform rating and a $50.00 price target on the stock. (NASDAQ:ARNA). Amit Munshi, President and CEO purchased $29,750 worth of shares at an average price of $1.19 on Friday the 12th. The stock had a trading volume of 1,039,213 shares.

Analysts expect Arena Pharmaceuticals, Inc.

The stock is trading at $24.35 a tad above the 50 day moving average which is $17.89 and which is a tad above the 200 day moving average of $15.11. The company's market cap is $762.78 million.

Among 6 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 5 have Buy rating, 0 Sell and 1 Hold. Next quarter's EPS is estimated at $-0.76 with next year's EPS projected to be $-3.13. The company had revenue of $6.60 million for the quarter, compared to analyst estimates of $4.84 million. Arena Pharmaceuticals had a negative return on equity of 108.77% and a negative net margin of 19.07%. Wellington Management Group LLP has an ownership of 23,583,115 stocks of the biopharmaceutical firms shares valued $34,432,000 after scooping up an extra 547,663 shares through out the previous quarter, Lastly, AXA raised its position in Arena Pharmaceuticals by 1,420.6% in the Q1. During the same period in the prior year, the firm posted ($0.90) EPS. On average, equities analysts forecast that Arena Pharmaceuticals, Inc. will post ($3.10) earnings per share for the current year. "(NASDAQ:ARNA) Coverage Initiated at Citigroup Inc." was reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another publication, it was illegally stolen and republished in violation of global copyright & trademark legislation. Citigroup raised the price target on Arena Pharmaceuticals from $23.00 to $37.00 and issued the shares a "buy" recommendation in a analysis report on Tue, Jul 11th.

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In related news, insider Amit Munshi bought 25,000 shares of Arena Pharmaceuticals stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average price of $1.19 per share, with a total value of $29,750.00. Following the completion of the transaction, the insider now owns 76,875 shares in the company, valued at $91,481.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Several hedge funds have recently made changes to their positions in ARNA. Wellington Management Group LLP boosted its position in shares of Arena Pharmaceuticals by 2.4% in the first quarter. Price T Rowe Assoc Md has invested 0% in Arena Pharmaceuticals, Inc. Vanguard Group Inc. now owns 19,905,389 shares of the biopharmaceutical company's stock valued at $29,063,000 after buying an additional 910,434 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Arena Pharmaceuticals by 0.9% in the first quarter. With short interest at 8,368,661 and short average daily volume at 1,944,218, the short-interest ratio is 4.3 and the percentage of shorted shares is 0.26% as of May 31. Tudor Investment Corp ET AL increased its position in Arena Pharmaceuticals by 95.4% in the first quarter.

10/20/2014 - Arena Pharmaceuticals, Inc. had its " rating reiterated by analysts at Bank of America Merrill Lynch. Nationwide Fund Advisors now owns 430,708 shares of the biopharmaceutical company's stock valued at $629,000 after buying an additional 19,762 shares during the last quarter.

Arena Pharmaceuticals, Inc is a biopharmaceutical company. The corporation 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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