Arena Pharmaceuticals (ARNA) Lowered to Buy at BidaskClub

Arena Pharmaceuticals (NASDAQ:ARNA) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, Cantor Fitzgerald restated a “buy” rating and set a $37.00 target price on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Arena Pharmaceuticals has an average rating of “Buy” and a consensus target price of $36.00.

Shares of Arena Pharmaceuticals (NASDAQ:ARNA) opened at $30.59 on Tuesday. 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 has a 12 month low of $11.30 and a 12 month high of $32.18.

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 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 firm had revenue of $7.95 million during the quarter, compared to analysts’ expectations of $5.48 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was down 58.6% on a year-over-year basis. equities analysts anticipate that Arena Pharmaceuticals will post -3 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in ARNA. Great West Life Assurance Co. Can increased its holdings in shares of Arena Pharmaceuticals by 128.2% during the third quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 2,466 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Arena Pharmaceuticals by 102.0% during the first quarter. Bank of America Corp DE now owns 96,379 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 48,667 shares in the last quarter. Strs Ohio acquired a new position in shares of Arena Pharmaceuticals during the second quarter worth $156,000. Cubist Systematic Strategies LLC acquired a new position in shares of Arena Pharmaceuticals during the third quarter worth $174,000. Finally, Airain ltd acquired a new position in shares of Arena Pharmaceuticals during the second quarter worth $178,000. Institutional investors own 72.82% of the company’s stock.

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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).

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