Cantor Fitzgerald restated their buy rating on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a research report report published on Wednesday morning. Cantor Fitzgerald currently has a $45.00 target price on the biopharmaceutical company’s stock.
“KOL event could fill in some important blank spaces. ARNA will host a lunch event on January 29 (12:30-1:30 pm) in NYC with two physician consultants to discuss modulators of S1P receptors and etrasimod, specifically. We believe the event could be helpful for investors as it relates to understanding important pharmacokinetic and pharmacodynamic properties of the drug candidate that we highlighted in a recent research report (here).”,” the firm’s analyst commented.
Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Arena Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Tuesday. Wells Fargo & Co raised shares of Arena Pharmaceuticals from a market perform rating to an outperform rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research cut shares of Arena Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $38.38.
Arena Pharmaceuticals (NASDAQ:ARNA) traded down $0.24 during trading on Wednesday, hitting $34.12. 358,883 shares of the company’s stock traded hands, compared to its average volume of 593,038. Arena Pharmaceuticals has a 1 year low of $11.30 and a 1 year high of $41.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. The company has a market cap of $1,340.00, a PE ratio of -36.30 and a beta of 1.49.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.01. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. The firm had revenue of $7.95 million for the quarter, compared to analysts’ expectations of $5.48 million. During the same quarter last year, the firm earned ($0.05) EPS. The company’s quarterly revenue was down 58.6% compared to the same quarter last year. sell-side analysts expect that Arena Pharmaceuticals will post -3.13 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can raised its holdings in shares of Arena Pharmaceuticals by 128.2% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,390 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 2,466 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Arena Pharmaceuticals in the 3rd quarter worth approximately $174,000. B. Riley Financial Inc. bought a new stake in shares of Arena Pharmaceuticals in the 3rd quarter worth approximately $204,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Arena Pharmaceuticals in the 3rd quarter worth approximately $252,000. Finally, DAFNA Capital Management LLC bought a new stake in shares of Arena Pharmaceuticals in the 2nd quarter worth approximately $262,000. 72.82% 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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