Arena Pharmaceuticals Inc. Hits New 52-Week Low at $4.20 (ARNA)
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) hit a new 52-week low during trading on Friday, AnalystRatings.Net reports. The stock traded as low as $4.20 and last traded at $4.32, with a volume of 2,559,966 shares trading hands. The stock had previously closed at $4.38.
A number of analysts have recently weighed in on ARNA shares. Analysts at Cowen and Company initiated coverage on shares of Arena Pharmaceuticals in a research note to investors on Thursday, October 3rd. They set a “market perform” rating and a $4.50 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Arena Pharmaceuticals from $5.00 to $4.00 in a research note to investors on Monday, September 30th. They now have an “underperform” rating on the stock. Finally, analysts at Zacks downgraded shares of Arena Pharmaceuticals 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. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Arena Pharmaceuticals has a consensus rating of “Hold” and an average price target of $8.15.
Arena Pharmaceuticals has a 52 week low of $4.20 and a 52 week high of $11.00. The stock has a 50-day moving average of $5.79 and a 200-day moving average of $7.27. The company’s market cap is $953.8 million.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 214.6% on a year-over-year basis. Analysts expect that Arena Pharmaceuticals will post $-0.14 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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