Arena Pharmaceuticals (ARNA) Rating Lowered to Sell at ValuEngine

Arena Pharmaceuticals (NASDAQ:ARNA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

ARNA has been the topic of several other reports. BidaskClub lowered shares of Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. Citigroup reissued a “buy” rating and issued a $62.00 target price on shares of Arena Pharmaceuticals in a report on Wednesday, March 21st. Wells Fargo raised shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 3rd. Zacks Investment Research raised shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, Needham & Company LLC raised shares of Arena Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the company from $30.89 to $60.00 in a report on Tuesday, March 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $53.13.

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ARNA stock opened at $39.15 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.89 and a current ratio of 3.89. Arena Pharmaceuticals has a 12 month low of $11.30 and a 12 month high of $45.85. The stock has a market capitalization of $1,638.88, a price-to-earnings ratio of -14.89 and a beta of 1.49.

Arena Pharmaceuticals (NASDAQ:ARNA) last released its earnings results on Wednesday, March 14th. The biopharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.30. Arena Pharmaceuticals had a negative net margin of 250.93% and a negative return on equity of 62.82%. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $5.75 million. During the same period last year, the firm earned $1.60 EPS. The business’s quarterly revenue was down 77.8% compared to the same quarter last year. equities research analysts forecast that Arena Pharmaceuticals will post -2.74 earnings per share for the current fiscal year.

In related news, EVP Steven W. Spector sold 30,001 shares of Arena Pharmaceuticals stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $34.57, for a total transaction of $1,037,134.57. Following the sale, the executive vice president now directly owns 34,691 shares of the company’s stock, valued at approximately $1,199,267.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC grew its holdings in shares of Arena Pharmaceuticals by 7.3% during the 4th quarter. Teachers Advisors LLC now owns 404,528 shares of the biopharmaceutical company’s stock valued at $13,742,000 after purchasing an additional 27,348 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Arena Pharmaceuticals by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 351,181 shares of the biopharmaceutical company’s stock valued at $11,929,000 after purchasing an additional 12,186 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Arena Pharmaceuticals by 12.7% during the 4th quarter. Macquarie Group Ltd. now owns 225,400 shares of the biopharmaceutical company’s stock valued at $7,657,000 after purchasing an additional 25,400 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Arena Pharmaceuticals by 16.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 209,085 shares of the biopharmaceutical company’s stock valued at $7,103,000 after purchasing an additional 29,732 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Arena Pharmaceuticals by 112.4% during the 4th quarter. Deutsche Bank AG now owns 185,080 shares of the biopharmaceutical company’s stock valued at $6,284,000 after purchasing an additional 97,934 shares during the last quarter. 60.24% of the stock is currently owned by institutional investors.

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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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