Swiss National Bank lifted its holdings in shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) by 30.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,630 shares of the biopharmaceutical company’s stock after buying an additional 14,800 shares during the period. Swiss National Bank owned about 162,238.65% of Arena Pharmaceuticals worth $1,623,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ARNA. American International Group Inc. boosted its stake in shares of Arena Pharmaceuticals by 7.1% during the 1st 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 during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Arena Pharmaceuticals by 12.7% during the 1st 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of Arena Pharmaceuticals by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,905,389 shares of the biopharmaceutical company’s stock worth $29,063,000 after buying an additional 910,434 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Arena Pharmaceuticals by 6.8% during the 1st quarter. Geode Capital Management LLC now owns 1,876,137 shares of the biopharmaceutical company’s stock worth $2,739,000 after buying an additional 119,336 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Arena Pharmaceuticals by 25.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,078,955 shares of the biopharmaceutical company’s stock worth $1,576,000 after buying an additional 215,844 shares during the last quarter. Institutional investors own 62.46% of the company’s stock.

Shares of Arena Pharmaceuticals, Inc. (ARNA) opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 4.32 and a current ratio of 4.42. Arena Pharmaceuticals, Inc. has a fifty-two week low of $11.30 and a fifty-two week high of $29.54.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.01. The company had revenue of $7.95 million for the quarter, compared to analysts’ expectations of $5.48 million. Arena Pharmaceuticals had a negative net margin of 36.78% and a negative return on equity of 34.12%. Arena Pharmaceuticals’s quarterly revenue was down 58.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS. equities research analysts forecast that Arena Pharmaceuticals, Inc. will post -3 EPS for the current year.

ARNA has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Arena Pharmaceuticals in a research note on Tuesday, August 8th. Cantor Fitzgerald restated a “buy” rating and set a $37.00 price objective on shares of Arena Pharmaceuticals in a research note on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.00.

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Arena Pharmaceuticals 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).

Institutional Ownership by Quarter for Arena Pharmaceuticals (NASDAQ:ARNA)

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