Arena Pharmaceuticals EVP Sells $1,262,000 in Stock (ARNA)
Arena Pharmaceuticals (NASDAQ:ARNA) EVP Dominic Behan sold 200,000 shares of Arena Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $6.31, for a total value of $1,262,000.00. Following the transaction, the executive vice president now directly owns 453,000 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on ARNA. Analysts at Zacks downgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $7.90 price target on the stock. Finally, analysts at Piper Jaffray Cos. cut their price target on shares of Arena Pharmaceuticals (NASDAQ:ARNA) to $11.50 in a research note to investors on Thursday, August 1st. They now have an “overweight” rating on the stock.
One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $9.08.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down 4.97% on Wednesday, hitting $6.025. The stock had a trading volume of 9,014,927 shares. Arena Pharmaceuticals has a 52-week low of $5.99 and a 52-week high of $11.00. The stock has a 50-day moving average of $6.87 and a 200-day moving average of $7.72. The company’s market cap is $1.315 billion.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.03. The company had revenue of $68.90 million for the quarter, compared to the consensus estimate of $57.30 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 214.6% on a year-over-year basis. Analysts expect that Arena Pharmaceuticals will post $-0.13 EPS for the current fiscal year.
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors.
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