Arena Pharmaceuticals (ARNA) Raised to “Hold” at ValuEngine

Arena Pharmaceuticals (NASDAQ:ARNA) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on ARNA. Credit Suisse Group initiated coverage on Arena Pharmaceuticals in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $44.00 target price for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $45.00 target price on shares of Arena Pharmaceuticals in a research report on Wednesday, January 17th. BidaskClub upgraded Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research downgraded Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Leerink Swann restated a “positive” rating and set a $56.00 price target (up from $53.00) on shares of Arena Pharmaceuticals in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $38.38.

Shares of Arena Pharmaceuticals (ARNA) traded up $0.34 during trading hours on Friday, reaching $39.13. The company’s stock had a trading volume of 602,220 shares, compared to its average volume of 602,559. Arena Pharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $41.92. The company has a current ratio of 4.42, a quick ratio of 4.32 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1,523.03, a price-to-earnings ratio of -42.08 and a beta of 1.64.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.01. Arena Pharmaceuticals had a negative return on equity of 34.12% and a negative net margin of 36.78%. The business had revenue of $7.95 million during the quarter, compared to analyst estimates of $5.48 million. During the same quarter in the previous year, the firm earned ($0.05) EPS. Arena Pharmaceuticals’s revenue was down 58.6% on a year-over-year basis. sell-side analysts anticipate that Arena Pharmaceuticals will post -3.13 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in shares of Arena Pharmaceuticals by 38.6% during the 4th quarter. American Century Companies Inc. now owns 90,102 shares of the biopharmaceutical company’s stock valued at $3,061,000 after purchasing an additional 25,108 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of Arena Pharmaceuticals by 16.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 209,085 shares of the biopharmaceutical company’s stock valued at $7,103,000 after purchasing an additional 29,732 shares during the period. Pura Vida Investments LLC grew its stake in shares of Arena Pharmaceuticals by 219.1% during the 3rd quarter. Pura Vida Investments LLC now owns 111,700 shares of the biopharmaceutical company’s stock valued at $2,848,000 after purchasing an additional 76,700 shares during the period. Iguana Healthcare Management LLC bought a new stake in shares of Arena Pharmaceuticals during the 3rd quarter valued at about $1,530,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Arena Pharmaceuticals during the 3rd quarter valued at approximately $174,000. Institutional investors and hedge funds own 72.39% of the company’s stock.

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About Arena Pharmaceuticals

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).

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Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

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