Arena Pharmaceuticals (NASDAQ:ARNA) PT Lowered to $58.00 at JPMorgan Chase & Co.

Arena Pharmaceuticals (NASDAQ:ARNA) had its price target reduced by research analysts at JPMorgan Chase & Co. from $59.00 to $58.00 in a research report issued on Friday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 22.36% from the company’s current price.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $79.00 target price on shares of Arena Pharmaceuticals in a research report on Sunday, August 11th. BidaskClub upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. ValuEngine lowered shares of Arena Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. Finally, TheStreet lowered shares of Arena Pharmaceuticals from a “b” rating to a “c+” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $62.86.

NASDAQ:ARNA opened at $47.40 on Friday. The firm’s 50 day moving average is $48.02 and its 200 day moving average is $53.52. The stock has a market capitalization of $2.45 billion, a PE ratio of -16.07 and a beta of 1.54. The company has a current ratio of 36.51, a quick 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.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.32) by ($0.14). The firm had revenue of $1.35 million for the quarter, compared to analysts’ expectations of $2.06 million. Arena Pharmaceuticals had a net margin of 72.84% and a return on equity of 53.92%. The firm’s revenue for the quarter was down 62.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.70) earnings per share. Research analysts predict that Arena Pharmaceuticals will post 8.51 earnings per share for the current year.

In other Arena Pharmaceuticals news, VP Vincent Aurentz sold 65,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $50.72, for a total value of $3,296,800.00. Following the completion of the sale, the vice president now directly owns 25,000 shares of the company’s stock, valued at $1,268,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven W. Spector sold 31,457 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $50.72, for a total transaction of $1,595,499.04. Following the completion of the sale, the executive vice president now directly owns 22,964 shares of the company’s stock, valued at $1,164,734.08. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Stonebridge Capital Advisors LLC bought a new stake in Arena Pharmaceuticals in the second quarter worth $27,000. Capital Investment Advisory Services LLC bought a new stake in Arena Pharmaceuticals in the second quarter worth $44,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Arena Pharmaceuticals by 27.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 887 shares of the biopharmaceutical company’s stock worth $52,000 after purchasing an additional 193 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Arena Pharmaceuticals by 609.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,412 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in Arena Pharmaceuticals in the second quarter worth $207,000. 83.24% of the stock is owned by institutional investors and hedge funds.

Arena Pharmaceuticals Company Profile

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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