Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has been given a consensus rating of “Buy” by the twelve analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $36.00.

Several brokerages recently issued reports on ARNA. Wells Fargo & Company reaffirmed a “market perform” rating and set a $19.00 price target (up from $15.00) on shares of Arena Pharmaceuticals in a report on Wednesday, July 12th. Citigroup Inc. lifted their price target on shares of Arena Pharmaceuticals from $23.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, July 11th. Leerink Swann lifted their price target on shares of Arena Pharmaceuticals from $47.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. BidaskClub raised shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Finally, JMP Securities raised shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Friday, July 7th. They noted that the move was a valuation call.

Shares of Arena Pharmaceuticals (NASDAQ ARNA) opened at 24.28 on Monday. The company’s market cap is $770.72 million. The company has a 50-day moving average of $13.76 and a 200-day moving average of $14.27. Arena Pharmaceuticals has a 1-year low of $11.30 and a 1-year high of $27.86.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.82) by $0.08. The firm had revenue of $6.60 million during the quarter, compared to analyst estimates of $4.84 million. Arena Pharmaceuticals had a negative net margin of 19.07% and a negative return on equity of 108.77%. Arena Pharmaceuticals’s quarterly revenue was down 33.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. Equities analysts forecast that Arena Pharmaceuticals will post ($3.14) EPS for the current year.

In other Arena Pharmaceuticals news, insider Amit Munshi bought 25,000 shares of Arena Pharmaceuticals stock in a transaction on Friday, May 12th. The shares were purchased at an average cost of $1.19 per share, with a total value of $29,750.00. Following the acquisition, the insider now directly owns 76,875 shares of the company’s stock, valued at approximately $91,481.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.88% of the company’s stock.

Large investors have recently bought and sold shares of the company. Tudor Investment Corp Et Al raised its stake in Arena Pharmaceuticals by 200.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 72,259 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 48,181 shares during the last quarter. Bank of America Corp DE raised its stake in Arena Pharmaceuticals by 102.0% in the first quarter. Bank of America Corp DE now owns 96,379 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 48,667 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in Arena Pharmaceuticals by 95.4% in the first quarter. Tudor Investment Corp ET AL now owns 141,225 shares of the biopharmaceutical company’s stock worth $206,000 after buying an additional 68,966 shares during the last quarter. American International Group Inc. raised its stake in Arena Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 150,966 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 9,959 shares during the last quarter. Finally, A.R.T. Advisors LLC raised its stake in Arena Pharmaceuticals by 485.3% in the fourth quarter. A.R.T. Advisors LLC now owns 155,100 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 128,600 shares during the last quarter.

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Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing small molecule drugs across a range of therapeutic areas. The Company has three primary investigational clinical programs: etrasimod (APD334) in Phase II evaluation for ulcerative colitis, APD371 entering Phase II evaluation for the treatment of pain associated with Crohn’s disease, and ralinepag (APD811) in Phase II evaluation for pulmonary arterial hypertension (PAH).

Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

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