DAFNA Capital Management LLC purchased a new stake in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,550 shares of the biopharmaceutical company’s stock, valued at approximately $262,000.

Several other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Arena Pharmaceuticals by 2.4% in the 1st quarter. Wellington Management Group LLP now owns 23,583,115 shares of the biopharmaceutical company’s stock valued at $34,432,000 after purchasing an additional 547,663 shares during the period. Vanguard Group Inc. boosted its position in shares of Arena Pharmaceuticals by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,905,389 shares of the biopharmaceutical company’s stock valued at $29,063,000 after purchasing an additional 910,434 shares during the period. Renaissance Technologies LLC boosted its position in shares of Arena Pharmaceuticals by 12.7% in the 1st quarter. Renaissance Technologies LLC now owns 8,479,445 shares of the biopharmaceutical company’s stock valued at $12,380,000 after purchasing an additional 957,190 shares during the period. Geode Capital Management LLC boosted its position in shares of Arena Pharmaceuticals by 6.8% in the 1st quarter. Geode Capital Management LLC now owns 1,876,137 shares of the biopharmaceutical company’s stock valued at $2,739,000 after purchasing an additional 119,336 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Arena Pharmaceuticals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,181,899 shares of the biopharmaceutical company’s stock valued at $1,725,000 after purchasing an additional 10,446 shares during the period. Institutional investors and hedge funds own 46.21% of the company’s stock.

WARNING: This report was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/06/15550-shares-in-arena-pharmaceuticals-inc-arna-purchased-by-dafna-capital-management-llc.html.

Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) traded down 1.12% during midday trading on Friday, reaching $25.55. The company’s stock had a trading volume of 44,655 shares. Arena Pharmaceuticals, Inc. has a 12 month low of $11.30 and a 12 month high of $27.86. The stock has a 50-day moving average of $23.72 and a 200 day moving average of $18.27. The company’s market cap is $1.00 billion.

Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.03). Arena Pharmaceuticals had a negative net margin of 16.27% and a negative return on equity of 49.87%. The business had revenue of $6.49 million during the quarter, compared to analyst estimates of $5.58 million. During the same period in the previous year, the firm posted ($1.10) earnings per share. The firm’s revenue was down 31.8% on a year-over-year basis. On average, analysts predict that Arena Pharmaceuticals, Inc. will post ($2.94) earnings per share for the current fiscal year.

ARNA has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 price target on shares of Arena Pharmaceuticals in a research report on Monday, July 17th. Leerink Swann increased their price target on Arena Pharmaceuticals from $47.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, July 11th. Citigroup Inc. initiated coverage on Arena Pharmaceuticals in a research report on Tuesday, June 27th. They issued a “buy” rating and a $23.00 price target for the company. Zacks Investment Research upgraded Arena Pharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, July 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $19.00 price target (up previously from $15.00) on shares of Arena Pharmaceuticals in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $36.00.

Arena Pharmaceuticals 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).

Want to see what other hedge funds are holding ARNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arena Pharmaceuticals, Inc. (NASDAQ:ARNA).

Institutional Ownership by Quarter for Arena Pharmaceuticals (NASDAQ:ARNA)

Receive News & Stock Ratings for Arena Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arena Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.