Arena Pharmaceuticals, Inc. (ARNA) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC lowered its holdings in Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) by 24.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,872 shares of the biopharmaceutical company’s stock after selling 1,904 shares during the quarter. SG Americas Securities LLC’s holdings in Arena Pharmaceuticals were worth $256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARNA. BlackRock Inc. lifted its stake in shares of Arena Pharmaceuticals by 33.9% in the 1st quarter. BlackRock Inc. now owns 4,161,464 shares of the biopharmaceutical company’s stock valued at $164,377,000 after purchasing an additional 1,053,539 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Arena Pharmaceuticals by 101.8% in the 1st quarter. Point72 Asset Management L.P. now owns 337,400 shares of the biopharmaceutical company’s stock valued at $13,327,000 after purchasing an additional 170,200 shares during the period. Rock Springs Capital Management LP lifted its stake in shares of Arena Pharmaceuticals by 74.4% in the 1st quarter. Rock Springs Capital Management LP now owns 375,000 shares of the biopharmaceutical company’s stock valued at $14,813,000 after purchasing an additional 160,000 shares during the period. Senzar Asset Management LLC purchased a new position in shares of Arena Pharmaceuticals in the 1st quarter valued at approximately $5,039,000. Finally, DAFNA Capital Management LLC purchased a new position in shares of Arena Pharmaceuticals in the 1st quarter valued at approximately $5,006,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
ARNA has been the subject of a number of analyst reports. BidaskClub lowered Arena Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Royal Bank of Canada initiated coverage on Arena Pharmaceuticals in a research report on Thursday, May 31st. They set an “outperform” rating and a $65.00 price objective for the company. ValuEngine raised Arena Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Finally, Credit Suisse Group reduced their price objective on Arena Pharmaceuticals from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $60.38.
ARNA stock opened at $42.85 on Tuesday. Arena Pharmaceuticals, Inc. has a twelve month low of $24.33 and a twelve month high of $50.05. The company has a quick ratio of 28.76, a current ratio of 28.76 and a debt-to-equity ratio of 0.10.
Arena Pharmaceuticals (NASDAQ:ARNA) last posted its quarterly earnings data on Monday, August 6th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.01). Arena Pharmaceuticals had a negative net margin of 377.94% and a negative return on equity of 25.90%. The company had revenue of $4.00 million for the quarter, compared to the consensus estimate of $3.91 million. During the same period last year, the business earned ($0.77) EPS. The firm’s quarterly revenue was up 110.5% on a year-over-year basis. equities research analysts forecast that Arena Pharmaceuticals, Inc. will post -2.88 EPS for the current fiscal year.
Arena Pharmaceuticals Company Profile
Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. Its proprietary investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod that is in Phase II trials for treating immune and inflammatory conditions with primary focus on ulcerative colitis and hepatic conditions, as well as for primary biliary cholangitis and pyoderma gangrenosum; and APD371, which is in Phase II trial for the treatment of pain associated with Crohn's disease.
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