ValuEngine Lowers Arena Pharmaceuticals (ARNA) to Sell
Arena Pharmaceuticals (NASDAQ:ARNA) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Several other research firms have also recently issued reports on ARNA. Credit Suisse Group started coverage on Arena Pharmaceuticals in a report on Wednesday, January 17th. They issued an “outperform” rating and a $44.00 price target on the stock. JMP Securities raised their price target on Arena Pharmaceuticals from $63.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, March 20th. Cantor Fitzgerald reiterated a “buy” rating and issued a $45.00 price target on shares of Arena Pharmaceuticals in a report on Wednesday, January 17th. Wells Fargo reduced their target price on Arena Pharmaceuticals from $53.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, March 20th. Finally, BidaskClub cut Arena Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Arena Pharmaceuticals presently has an average rating of “Buy” and an average price target of $53.13.
Arena Pharmaceuticals stock opened at $34.30 on Tuesday. The stock has a market capitalization of $1,704.81, a P/E ratio of -13.04 and a beta of 1.48. Arena Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $45.85. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.28.
Institutional investors and hedge funds have recently modified their holdings of the business. Bailard Inc. bought a new position in Arena Pharmaceuticals during the fourth quarter worth about $2,752,000. American Century Companies Inc. boosted its holdings in Arena Pharmaceuticals by 38.6% during the fourth quarter. American Century Companies Inc. now owns 90,102 shares of the biopharmaceutical company’s stock worth $3,061,000 after buying an additional 25,108 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Arena Pharmaceuticals by 7.3% during the fourth quarter. Teachers Advisors LLC now owns 404,528 shares of the biopharmaceutical company’s stock worth $13,742,000 after buying an additional 27,348 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in Arena Pharmaceuticals by 109.0% during the third quarter. Nationwide Fund Advisors now owns 38,751 shares of the biopharmaceutical company’s stock worth $988,000 after buying an additional 20,209 shares during the last quarter. Finally, X Square Capital LLC bought a new position in Arena Pharmaceuticals during the fourth quarter worth about $1,099,000. Hedge funds and other institutional investors own 60.24% of the company’s stock.
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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