Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Arena Pharmaceuticals (ARNA) Share Price
Media headlines about Arena Pharmaceuticals (NASDAQ:ARNA) have been trending somewhat positive this week, Accern reports. The research firm ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Arena Pharmaceuticals earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave media headlines about the biopharmaceutical company an impact score of 47.8434481760941 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have effected Accern Sentiment Analysis’s rankings:
- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Sees Large Decline in Short Interest (americanbankingnews.com)
- Analysts Expect Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Will Announce Earnings of -$0.69 Per Share (americanbankingnews.com)
- Arena Pharmaceuticals (ARNA) Getting Somewhat Favorable News Coverage, Analysis Finds – ExpressNewsline (expressnewsline.com)
- Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Receives Consensus Rating of “Buy” from Analysts (americanbankingnews.com)
- Arena Pharmaceuticals Inc (ARNA) Moves 0.43% – Sparta Review (spartareview.com)
Arena Pharmaceuticals (ARNA) opened at 21.03 on Friday. The stock has a 50 day moving average price of $21.42 and a 200-day moving average price of $15.97. The stock’s market cap is $824.80 million. Arena Pharmaceuticals has a 52 week low of $11.30 and a 52 week high of $27.86.
Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $0.03. The firm had revenue of $6.49 million for the quarter, compared to the consensus estimate of $5.58 million. Arena Pharmaceuticals had a negative net margin of 16.27% and a negative return on equity of 49.87%. Arena Pharmaceuticals’s revenue was down 31.8% on a year-over-year basis. During the same period last year, the business earned ($1.10) EPS. On average, equities analysts anticipate that Arena Pharmaceuticals will post ($2.94) EPS for the current fiscal year.
A number of analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Arena Pharmaceuticals in a report on Tuesday, August 8th. Leerink Swann boosted their price objective on Arena Pharmaceuticals from $47.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Arena Pharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Tuesday, July 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price objective on shares of Arena Pharmaceuticals in a report on Friday, June 30th. Finally, JMP Securities raised Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a report on Friday, July 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Arena Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $36.00.
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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