Arena Pharmaceuticals (NASDAQ:ARNA) Trading Up 5.4%

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)’s stock price was up 5.4% during mid-day trading on Friday . The company traded as high as $55.83 and last traded at $55.72, approximately 526,170 shares were traded during trading. An increase of 4% from the average daily volume of 506,463 shares. The stock had previously closed at $52.88.

A number of analysts have recently issued reports on ARNA shares. Cantor Fitzgerald reiterated a “buy” rating on shares of Arena Pharmaceuticals in a report on Wednesday, May 8th. Zacks Investment Research cut Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Royal Bank of Canada reiterated a “buy” rating and set a $79.00 target price on shares of Arena Pharmaceuticals in a report on Sunday, August 11th. BidaskClub cut Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine cut Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.67.

The stock has a market cap of $2.78 billion, a PE ratio of -18.89 and a beta of 1.42. The stock has a fifty day simple moving average of $60.10 and a two-hundred day simple moving average of $52.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 35.51 and a current ratio of 36.51.



Arena Pharmaceuticals (NASDAQ:ARNA) last released its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($1.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.02) by ($0.22). The company had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $2.91 million. Arena Pharmaceuticals had a return on equity of 53.92% and a net margin of 72.84%. The firm’s revenue was down 74.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.65) EPS. On average, equities analysts predict that Arena Pharmaceuticals, Inc. will post 8.83 EPS for the current fiscal year.

In other Arena Pharmaceuticals news, Director Jayson Donald Alexander Dallas sold 1,525 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 5,704 shares in the company, valued at approximately $318,853.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.73% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in ARNA. Eagle Asset Management Inc. purchased a new position in shares of Arena Pharmaceuticals during the 1st quarter valued at approximately $42,118,000. Victory Capital Management Inc. purchased a new position in shares of Arena Pharmaceuticals during the 1st quarter valued at approximately $30,270,000. Carillon Tower Advisers Inc. purchased a new position in shares of Arena Pharmaceuticals during the 1st quarter valued at approximately $29,838,000. Norges Bank purchased a new position in shares of Arena Pharmaceuticals during the 4th quarter valued at approximately $21,374,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of Arena Pharmaceuticals during the 2nd quarter valued at approximately $26,560,000. Institutional investors own 83.25% of the company’s stock.

Arena Pharmaceuticals Company Profile (NASDAQ:ARNA)

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.

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