Research Analysts’ Weekly Ratings Changes for Arena Pharmaceuticals (ARNA)

Several analysts have recently updated their ratings and price targets for Arena Pharmaceuticals (NASDAQ: ARNA):

  • 3/26/2018 – Arena Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 3/22/2018 – Arena Pharmaceuticals was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/21/2018 – Arena Pharmaceuticals had its “buy” rating reaffirmed by analysts at Citigroup. They now have a $62.00 price target on the stock.
  • 3/20/2018 – Arena Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/20/2018 – Arena Pharmaceuticals had its price target raised by analysts at JMP Securities from $63.00 to $79.00. They now have an “outperform” rating on the stock.
  • 3/20/2018 – Arena Pharmaceuticals had its price target lowered by analysts at Wells Fargo from $53.00 to $60.00. They now have an “outperform” rating on the stock.
  • 3/20/2018 – Arena Pharmaceuticals was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $60.00 price target on the stock, up previously from $30.89.
  • 3/14/2018 – Arena Pharmaceuticals was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 3/14/2018 – Arena Pharmaceuticals had its “hold” rating reaffirmed by analysts at Needham & Company LLC. They wrote, “Arena mgmt provided a corporate update today in a 4Q17 conference call. Mgmt reiterated guidance for top-line results from etrasimod Phase 2 trial in Ulcerative Colitis (UC) later this month. Preclinical and Phase 1 data suggest the drug has the potential for differentiation in the S1P receptor modulator space. We await outcome, maintaining HOLD. Mgmt also discussed ralinepag Phase 3 trial design in Pulmonary Arterial Hypertension (PAH). Three trials are planned, two of which mgmt believes are independently sufficient for regulatory approval. Mgmt plans to provide more details around cost and time to completion mid-2018 after protocols are finalized.””
  • 3/13/2018 – Arena Pharmaceuticals was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/9/2018 – Arena Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Arena’s only approved product is Belviq, used for chronic weight management. Though it was the first obesity drug to be approved by the FDA in over a decade, is yet to impress with its performance. However, the company’s partnership agreements and efforts to improve the performance of the drug are impressive. We are also encouraged by the company’s cost-reduction initiatives to streamline the organization to support its development programs. Shares of the company have outperformed the industry in the last one year. On the flip side, Arena’s pipeline consists of early-to-mid stage candidates, still several years from commercialization. Plus, competition remains intense in the obesity market with both branded and generic players. “
  • 2/27/2018 – Arena Pharmaceuticals had its price target raised by analysts at Citigroup from $37.00 to $55.00. They now have a “buy” rating on the stock.
  • 2/27/2018 – Arena Pharmaceuticals was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 2/20/2018 – Arena Pharmaceuticals had its price target raised by analysts at JMP Securities from $36.00 to $63.00. They now have an “outperform” rating on the stock.

Shares of ARNA stock traded up $1.65 during trading hours on Monday, hitting $35.53. 278,665 shares of the company were exchanged, compared to its average volume of 1,254,084. The firm has a market cap of $1,618.81, a P/E ratio of -13.51 and a beta of 1.48. Arena Pharmaceuticals, Inc. has a 1 year low of $11.30 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.89 and a quick ratio of 3.89.

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Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.30. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $5.75 million. Arena Pharmaceuticals had a negative net margin of 250.93% and a negative return on equity of 62.82%. The company’s revenue was down 77.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 EPS. analysts expect that Arena Pharmaceuticals, Inc. will post -2.74 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ARNA. Point72 Asset Management L.P. purchased a new position in shares of Arena Pharmaceuticals during the 3rd quarter worth about $9,973,000. Deutsche Bank AG raised its holdings in Arena Pharmaceuticals by 112.4% in the fourth quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock valued at $6,284,000 after buying an additional 97,934 shares during the period. Bailard Inc. purchased a new position in Arena Pharmaceuticals in the fourth quarter valued at approximately $2,752,000. Pura Vida Investments LLC raised its holdings in Arena Pharmaceuticals by 219.1% in the third quarter. Pura Vida Investments LLC now owns 111,700 shares of the biopharmaceutical company’s stock valued at $2,848,000 after buying an additional 76,700 shares during the period. Finally, Iguana Healthcare Management LLC purchased a new position in Arena Pharmaceuticals in the third quarter valued at approximately $1,530,000. Institutional investors and hedge funds own 60.24% of the company’s stock.

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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