Arena Pharmaceuticals Coverage Initiated at Credit Suisse (ARNA)
Equities research analysts at Credit Suisse began coverage on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a research note issued to investors on Thursday. The firm set an “underperform” rating on the stock.
Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down 0.97% on Thursday, hitting $4.08. 3,283,681 shares of the company’s stock traded hands. Arena Pharmaceuticals has a 1-year low of $4.05 and a 1-year high of $7.97. The stock has a 50-day moving average of $4.44 and a 200-day moving average of $5.8. The company’s market cap is $896.9 million.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data 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 $-0.32 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, August 7th. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Arena Pharmaceuticals has a consensus rating of “Hold” and an average target price of $9.13.
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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