Insider Selling: Dominic P. Behan Sells 33,332 Shares of Arena Pharmaceuticals Stock (ARNA)
Arena Pharmaceuticals (NASDAQ:ARNA) EVP Dominic P. Behan sold 33,332 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $6.25, for a total value of $208,325.00. Following the completion of the sale, the executive vice president now directly owns 483,000 shares in the company, valued at approximately $3,018,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on ARNA. Analysts at WallachBeth Capital initiated coverage on shares of Arena Pharmaceuticals in a research note to investors on Friday, November 15th. They set a “buy” rating and a $9.00 price target on the stock. Separately, analysts at Leerink Swann reiterated an “outperform” rating on shares of Arena Pharmaceuticals in a research note to investors on Monday, November 11th. They now have a $12.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Arena Pharmaceuticals in a research note to investors on Monday, November 11th. They now have a $12.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Arena Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $8.49.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded up 3.92% on Monday, hitting $6.62. 11,878,843 shares of the company’s stock traded hands. Arena Pharmaceuticals has a 1-year low of $4.05 and a 1-year high of $11.00. The stock has a 50-day moving average of $5.97 and a 200-day moving average of $5.98. The company’s market cap is $1.447 billion.
Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings data on Thursday, November 7th. The company reported ($0.08) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.12) by $0.04. The company had revenue of $3.60 million for the quarter, compared to the consensus estimate of $5.30 million. During the same quarter last year, the company posted ($0.07) earnings per share. Arena Pharmaceuticals’s revenue was up 142.4% compared to the same quarter last year. On average, analysts predict that Arena Pharmaceuticals will post $0.07 earnings per share 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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