Arena Pharmaceuticals (ARNA) Downgraded by BidaskClub
BidaskClub downgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.
Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald restated a buy rating and set a $37.00 target price on shares of Arena Pharmaceuticals in a research report on Monday, September 25th. Wells Fargo & Co upgraded Arena Pharmaceuticals from a market perform rating to an outperform rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research downgraded 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 given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $38.38.
Arena Pharmaceuticals (ARNA) opened at $35.60 on Tuesday. The company has a current ratio of 4.42, a quick ratio of 4.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1,339.67, a P/E ratio of -38.28 and a beta of 1.50. Arena Pharmaceuticals has a 52-week low of $11.30 and a 52-week high of $41.92.
Institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can raised its position in 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 valued at $112,000 after purchasing an additional 2,466 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at $174,000. B. Riley Financial Inc. bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at $204,000. State Board of Administration of Florida Retirement System bought a new position in Arena Pharmaceuticals in the 3rd quarter valued at $252,000. Finally, DAFNA Capital Management LLC bought a new position in Arena Pharmaceuticals in the 2nd quarter valued at $262,000. Hedge funds and other institutional investors own 72.82% 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).
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