Arena Pharmaceuticals (ARNA) Receiving Somewhat Critical Media Coverage, Analysis Finds

Headlines about Arena Pharmaceuticals (NASDAQ:ARNA) have been trending somewhat negative on Saturday, according to AlphaOne Sentiment. AlphaOne, a service of Accern, identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Arena Pharmaceuticals earned a news impact score of -0.02 on AlphaOne’s scale. AlphaOne also assigned media coverage about the biopharmaceutical company an impact score of 72 out of 100, meaning that recent media coverage is likely to have an impact on the company’s share price in the next several days.

Here are some of the headlines that may have impacted AlphaOne’s rankings:

Several brokerages have weighed in on ARNA. Leerink Swann began coverage on Arena Pharmaceuticals in a research note on Friday. They set an “outperform” rating and a $5.00 target price on the stock. FBR & Co reaffirmed an “outperform” rating and set a $6.00 target price on shares of Arena Pharmaceuticals in a research note on Thursday, March 16th. Finally, Zacks Investment Research raised Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Arena Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $5.50.

Arena Pharmaceuticals (NASDAQ:ARNA) traded up 15.65% during mid-day trading on Friday, hitting $1.33. The stock had a trading volume of 7,013,464 shares. The firm’s market cap is $422.19 million. The stock has a 50 day moving average of $1.33 and a 200-day moving average of $1.44. Arena Pharmaceuticals has a 1-year low of $1.13 and a 1-year high of $2.16.

Arena Pharmaceuticals (NASDAQ:ARNA) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.01. Arena Pharmaceuticals had a negative net margin of 197.50% and a negative return on equity of 336.85%. The firm had revenue of $6.60 million for the quarter, compared to analyst estimates of $4.84 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was down 33.0% on a year-over-year basis. Analysts predict that Arena Pharmaceuticals will post ($0.35) EPS for the current fiscal year.

In other news, insider Amit Munshi acquired 25,000 shares of the stock in a transaction on Friday, May 12th. The stock was acquired at an average cost of $1.19 per share, for a total transaction of $29,750.00. Following the completion of the transaction, the insider now directly owns 76,875 shares in the company, valued at $91,481.25. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.14% of the stock is owned by insiders.

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About Arena Pharmaceuticals

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).

12 Month Chart for NASDAQ:ARNA

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