Arena Pharmaceuticals Target of Unusually Large Options Trading (ARNA)
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) saw unusually large options trading on Monday. Investors purchased 10,692 call options on the company, American Banking News reports. This represents an increase of approximately 242% compared to the average volume of 3,130 call options.
A number of research firms have recently commented on ARNA. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a research note to investors on Monday. They now have a $4.00 price target on the stock, down previously from $5.00. Separately, 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 Zacks upgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, August 2nd. They now have a $7.40 price target on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $8.88.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down 8.98% on Monday, hitting $5.27. The stock had a trading volume of 11,374,024 shares. Arena Pharmaceuticals has a 1-year low of $5.72 and a 1-year high of $11.00. The stock’s 50-day moving average is $6.45 and its 200-day moving average is $7.51. The company’s market cap is $1.150 billion.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings results 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 last year, the company posted ($0.12) earnings per share. Arena Pharmaceuticals’s revenue was up 214.6% compared to the same quarter last year. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.