Arena Pharmaceuticals Inc. (NASDAQ:ARNA) has earned a consensus rating of “Hold” from the eight analysts that are covering the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $3.75.

Several brokerages have weighed in on ARNA. FBR & Co reaffirmed a “buy” rating and set a $6.00 price target on shares of Arena Pharmaceuticals in a report on Wednesday, November 9th. Needham & Company LLC reiterated a “hold” rating on shares of Arena Pharmaceuticals in a research report on Thursday, November 10th. Zacks Investment Research cut shares of Arena Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 11th. Jefferies Group reiterated a “buy” rating on shares of Arena Pharmaceuticals in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Arena Pharmaceuticals in a research report on Monday, August 8th.

Shares of Arena Pharmaceuticals (NASDAQ:ARNA) traded down 3.31% during midday trading on Wednesday, reaching $1.46. 1,039,229 shares of the company’s stock traded hands. Arena Pharmaceuticals has a one year low of $1.30 and a one year high of $2.68. The company’s market capitalization is $355.24 million. The company has a 50-day moving average of $1.57 and a 200-day moving average of $1.68.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. Arena Pharmaceuticals had a negative net margin of 197.50% and a negative return on equity of 336.85%. The business had revenue of $19.20 million for the quarter, compared to the consensus estimate of $13.99 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The company’s revenue for the quarter was up 111.0% on a year-over-year basis. Equities research analysts anticipate that Arena Pharmaceuticals will post ($0.34) EPS for the current year.

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A number of large investors have recently made changes to their positions in ARNA. SG Americas Securities LLC boosted its stake in shares of Arena Pharmaceuticals by 49.3% in the third quarter. SG Americas Securities LLC now owns 70,221 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 23,179 shares in the last quarter. Morgan Stanley boosted its stake in shares of Arena Pharmaceuticals by 154.2% in the third quarter. Morgan Stanley now owns 115,624 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 70,131 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of Arena Pharmaceuticals by 6.2% in the second quarter. BlackRock Advisors LLC now owns 119,443 shares of the biopharmaceutical company’s stock valued at $204,000 after buying an additional 7,010 shares in the last quarter. KCG Holdings Inc. boosted its stake in shares of Arena Pharmaceuticals by 162.6% in the second quarter. KCG Holdings Inc. now owns 136,462 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 84,497 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Arena Pharmaceuticals by 5.5% in the second quarter. Nationwide Fund Advisors now owns 161,031 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 8,427 shares in the last quarter. Institutional investors own 48.96% of the company’s stock.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing small molecule drugs that target G protein-coupled receptors (GPCRs). The Company’s drug, Lorcaserin, is approved for marketing in the United States and South Korea for the indication of weight management, and is being commercialized under the brand name, BELVIQ.

5 Day Chart for NASDAQ:ARNA

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