Arena Pharmaceuticals Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:ARNA)
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Analyst Ratings News reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.07.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down 2.58% during mid-day trading on Thursday, hitting $4.34. The stock had a trading volume of 1,101,655 shares. Arena Pharmaceuticals has a 52 week low of $4.05 and a 52 week high of $7.97. The stock has a 50-day moving average of $5.22 and a 200-day moving average of $6.17. The company’s market cap is $953.9 million.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its earnings results on Friday, August 1st. The company reported $0.03 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.11) by $0.14. The company had revenue of $12.80 million for the quarter, compared to the consensus estimate of $9.81 million. During the same quarter last year, the company posted $0.18 earnings per share. Arena Pharmaceuticals’s revenue was down 81.4% compared to the same quarter last year. On average, analysts predict that Arena Pharmaceuticals will post $-0.33 earnings per share for the current fiscal year.
Separately, analysts at WallachBeth Capital cut their price target on shares of Arena Pharmaceuticals from $9.00 to $8.00 in a research note on Thursday. They now have a “buy” rating on the stock.
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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