Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) – Investment analysts at Cantor Fitzgerald issued their FY2022 EPS estimates for shares of Arena Pharmaceuticals in a research note issued on Wednesday, May 5th. Cantor Fitzgerald analyst A. Young expects that the biopharmaceutical company will post earnings of ($8.71) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $100.00 target price on the stock.
Several other research analysts also recently commented on ARNA. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on Arena Pharmaceuticals in a research note on Monday. They set a “buy” rating and a $104.00 target price for the company. Citigroup initiated coverage on Arena Pharmaceuticals in a research note on Tuesday, April 27th. They set a “buy” rating and a $104.00 target price for the company. TheStreet downgraded Arena Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Tuesday, March 16th. Credit Suisse Group boosted their price target on Arena Pharmaceuticals from $87.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, April 19th. Finally, Jonestrading reduced their price target on Arena Pharmaceuticals from $101.00 to $94.00 and set a “buy” rating for the company in a research note on Wednesday, March 3rd. One research analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $91.13.
ARNA stock opened at $63.07 on Friday. The company has a quick ratio of 23.17, a current ratio of 23.17 and a debt-to-equity ratio of 0.04. Arena Pharmaceuticals has a twelve month low of $44.79 and a twelve month high of $90.19. The business has a 50 day moving average price of $68.58 and a two-hundred day moving average price of $74.16. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -8.93 and a beta of 0.83. Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.98) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.16) by $0.18. During the same period in the prior year, the company earned ($2.00) earnings per share.
In other Arena Pharmaceuticals news, VP Vincent Aurentz sold 2,524 shares of the company’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $85.00, for a total value of $214,540.00. Following the sale, the vice president now owns 29,500 shares in the company, valued at approximately $2,507,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Mercantile Trust Co. grew its position in shares of Arena Pharmaceuticals by 82.1% in the 4th quarter. First Mercantile Trust Co. now owns 1,435 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 647 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Arena Pharmaceuticals by 11.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,906 shares of the biopharmaceutical company’s stock valued at $146,000 after purchasing an additional 192 shares in the last quarter. Cutler Group LP boosted its position in shares of Arena Pharmaceuticals by 9.9% during the 1st quarter. Cutler Group LP now owns 2,500 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 225 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Arena Pharmaceuticals during the 4th quarter valued at about $205,000. Finally, Waters Parkerson & CO. LLC bought a new stake in shares of Arena Pharmaceuticals during the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 89.67% of the company’s stock.
About Arena Pharmaceuticals
Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on providing novel medicines with pharmacology and pharmacokinetics to patients worldwide. Its investigational clinical programs include Etrasimod (APD334) that is in Phase III clinical trial for ulcerative colitis, Phase IIb/III clinical trial for Crohn’s disease, Phase II clinical trial for alopecia areata, Phase III clinical trial for atopic dermatitis, and Phase IIb clinical trial for eosinophilic esophagitis; Olorinab (APD371), which is in Phase IIb clinical trial for the treatment of abdominal pain associated with irritable bowel syndrome; APD418 that is in Phase I clinical trial for acute heart failure; and Temanogrel for coronary microvascular obstruction is in Phase II clinical trial.
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