Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. One investment 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. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.00.

A number of research firms have issued reports on ARNA. Needham & Company LLC restated a “hold” rating on shares of Arena Pharmaceuticals in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $37.00 target price on shares of Arena Pharmaceuticals in a research report on Monday, July 17th. Wells Fargo & Company restated a “market perform” rating and set a $19.00 target price (up from $15.00) on shares of Arena Pharmaceuticals in a research report on Wednesday, July 12th. Citigroup Inc. upped their target price on shares of Arena Pharmaceuticals from $23.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 7th.

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Several hedge funds have recently made changes to their positions in ARNA. TIAA CREF Investment Management LLC increased its stake in shares of Arena Pharmaceuticals by 12.7% in the first quarter. TIAA CREF Investment Management LLC now owns 781,492 shares of the biopharmaceutical company’s stock worth $1,141,000 after buying an additional 88,301 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Arena Pharmaceuticals by 2.4% in the first quarter. Wellington Management Group LLP now owns 23,583,115 shares of the biopharmaceutical company’s stock worth $34,432,000 after buying an additional 547,663 shares in the last quarter. AXA increased its stake in shares of Arena Pharmaceuticals by 1,420.6% in the first quarter. AXA now owns 568,700 shares of the biopharmaceutical company’s stock worth $830,000 after buying an additional 531,300 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Arena Pharmaceuticals by 292.6% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 278,375 shares of the biopharmaceutical company’s stock worth $405,000 after buying an additional 207,475 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Arena Pharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 150,966 shares of the biopharmaceutical company’s stock worth $220,000 after buying an additional 9,959 shares in the last quarter.

Arena Pharmaceuticals (NASDAQ:ARNA) opened at 20.65 on Friday. Arena Pharmaceuticals has a 52 week low of $11.30 and a 52 week high of $27.86. The stock has a 50 day moving average of $21.29 and a 200 day moving average of $15.92. The firm’s market cap is $656.65 million.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $0.03. Arena Pharmaceuticals had a negative return on equity of 49.87% and a negative net margin of 16.27%. The company had revenue of $6.49 million for the quarter, compared to analyst estimates of $5.58 million. During the same quarter last year, the company earned ($1.10) EPS. The firm’s quarterly revenue was down 31.8% on a year-over-year basis. Analysts anticipate that Arena Pharmaceuticals will post ($2.94) EPS for the current year.

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).

Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

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