Iguana Healthcare Management LLC Invests $1.53 Million in Arena Pharmaceuticals, Inc. (ARNA) Stock

Iguana Healthcare Management LLC bought a new stake in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,530,000. Iguana Healthcare Management LLC owned 0.15% of Arena Pharmaceuticals as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Arena Pharmaceuticals by 6.8% in the first quarter. Geode Capital Management LLC now owns 1,876,137 shares of the biopharmaceutical company’s stock valued at $2,739,000 after acquiring an additional 119,336 shares during the period. Marshall Wace North America L.P. bought a new stake in Arena Pharmaceuticals in the second quarter valued at about $1,630,000. Schwab Charles Investment Management Inc. increased its stake in Arena Pharmaceuticals by 25.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,078,955 shares of the biopharmaceutical company’s stock valued at $1,576,000 after acquiring an additional 215,844 shares during the period. Swiss National Bank increased its stake in Arena Pharmaceuticals by 30.3% in the third quarter. Swiss National Bank now owns 63,630 shares of the biopharmaceutical company’s stock valued at $1,623,000 after acquiring an additional 14,800 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in Arena Pharmaceuticals in the third quarter valued at about $2,156,000. 72.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of Arena Pharmaceuticals, Inc. (ARNA) opened at $30.82 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.42 and a quick ratio of 4.32. Arena Pharmaceuticals, Inc. has a 52 week low of $11.30 and a 52 week high of $32.18.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.01. The firm had revenue of $7.95 million for the quarter, compared to analysts’ expectations of $5.48 million. Arena Pharmaceuticals had a negative net margin of 410.97% and a negative return on equity of 86.10%. The company’s quarterly 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) earnings per share. analysts forecast that Arena Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

ARNA has been the topic of a number of analyst reports. BidaskClub raised shares of Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 2nd. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $36.00.

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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).

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

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