Arena Pharmaceuticals Inc. Hits New 52-Week Low at $5.72 (ARNA)
Arena Pharmaceuticals (NASDAQ:ARNA) set a new 52-week low during trading hours on Tuesday, American Banking & Market News reports. The company traded as low as $5.72 and last traded at $5.87, with a volume of 2,418,462 shares. The stock had previously closed at $5.80.
Several analysts have recently commented on the stock. 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Arena Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $9.08.
In other Arena Pharmaceuticals news, EVP Dominic P. Behan unloaded 200,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $6.31, for a total transaction of $1,262,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Arena Pharmaceuticals has a 1-year low of $5.72 and a 1-year high of $11.00. The stock has a 50-day moving average of $6.64 and a 200-day moving average of $7.58. The company’s market cap is $1.266 billion.
Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings data on Thursday, August 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the 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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