Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) have been assigned an average rating of “Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $44.83.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. ValuEngine raised shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub raised shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 26th. Wells Fargo & Co raised shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Finally, Credit Suisse Group began coverage on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. They set an “outperform” rating and a $44.00 price objective for the company.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Arena Pharmaceuticals during the 3rd quarter valued at approximately $9,973,000. Nationwide Fund Advisors lifted its stake in shares of Arena Pharmaceuticals by 109.0% in the third quarter. Nationwide Fund Advisors now owns 38,751 shares of the biopharmaceutical company’s stock worth $988,000 after acquiring an additional 20,209 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Arena Pharmaceuticals by 171.8% in the third quarter. American Century Companies Inc. now owns 64,994 shares of the biopharmaceutical company’s stock worth $1,657,000 after acquiring an additional 41,082 shares in the last quarter. Swiss National Bank lifted its stake in shares of Arena Pharmaceuticals by 30.3% in the third quarter. Swiss National Bank now owns 63,630 shares of the biopharmaceutical company’s stock worth $1,623,000 after acquiring an additional 14,800 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new position in shares of Arena Pharmaceuticals in the third quarter worth about $2,156,000. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Shares of Arena Pharmaceuticals (ARNA) traded up $1.05 during trading on Friday, reaching $40.18. 192,166 shares of the company’s stock were exchanged, compared to its average volume of 669,303. The stock has a market cap of $1,570.00, a P/E ratio of -42.61 and a beta of 1.64. The company has a current ratio of 4.42, a quick ratio of 4.32 and a debt-to-equity ratio of 0.27. Arena Pharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $41.92.

Arena Pharmaceuticals (NASDAQ:ARNA) last released 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. The firm had revenue of $7.95 million for the quarter, compared to the consensus estimate of $5.48 million. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The company’s revenue was down 58.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. sell-side analysts expect that Arena Pharmaceuticals will post -3.13 EPS for the current fiscal year.

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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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