Arena Pharmaceuticals (NASDAQ:ARNA) Upgraded at BidaskClub

BidaskClub upgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a sell rating to a hold rating in a report published on Tuesday, BidAskClub reports.

Several other equities research analysts have also commented on ARNA. ValuEngine upgraded shares of Arena Pharmaceuticals from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Wood & Company reiterated a sell rating on shares of Arena Pharmaceuticals in a research note on Thursday, November 14th. Zacks Investment Research lowered shares of Arena Pharmaceuticals from a hold rating to a sell rating and set a $49.00 price objective for the company. in a research note on Monday, December 30th. JPMorgan Chase & Co. upgraded shares of Arena Pharmaceuticals from a neutral rating to an overweight rating and set a $58.00 price objective for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada reiterated a buy rating and issued a $83.00 price objective on shares of Arena Pharmaceuticals in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $63.33.

NASDAQ ARNA traded up $0.18 during trading hours on Tuesday, hitting $54.00. The company’s stock had a trading volume of 30,942 shares, compared to its average volume of 529,190. The company has a current ratio of 21.90, a quick ratio of 21.90 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.68 billion, a PE ratio of 5.02 and a beta of 1.64. Arena Pharmaceuticals has a 52 week low of $42.48 and a 52 week high of $64.48. The company’s 50-day simple moving average is $46.74 and its two-hundred day simple moving average is $49.42.

Several hedge funds have recently modified their holdings of ARNA. State Street Corp increased its stake in shares of Arena Pharmaceuticals by 15.0% during the 3rd quarter. State Street Corp now owns 2,016,099 shares of the biopharmaceutical company’s stock worth $92,277,000 after purchasing an additional 263,282 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Arena Pharmaceuticals by 306.2% during the 4th quarter. Panagora Asset Management Inc. now owns 295,242 shares of the biopharmaceutical company’s stock worth $13,410,000 after purchasing an additional 222,566 shares during the last quarter. Man Group plc increased its stake in shares of Arena Pharmaceuticals by 116.9% during the 3rd quarter. Man Group plc now owns 362,975 shares of the biopharmaceutical company’s stock worth $16,613,000 after purchasing an additional 195,610 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Arena Pharmaceuticals by 21.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 764,376 shares of the biopharmaceutical company’s stock worth $34,718,000 after purchasing an additional 132,843 shares during the last quarter. Finally, GW&K Investment Management LLC purchased a new stake in shares of Arena Pharmaceuticals during the 4th quarter worth approximately $5,467,000. Institutional investors own 83.75% of the company’s stock.

Arena Pharmaceuticals Company Profile

Arena Pharmaceuticals, Inc, a biopharmaceutical company, focuses on providing novel medicines with pharmacology and pharmacokinetics to patients worldwide. Its investigational clinical programs include ralinepag (APD811), which is in Phase III trial to treat pulmonary arterial hypertension; etrasimod (APD334) for ulcerative colitis, and Crohn's disease, as well as for atopic dermatitis and other indications; and Olorinab (APD371), which is in Phase II trial for the treatment of gastrointestinal pain.

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Analyst Recommendations for Arena Pharmaceuticals (NASDAQ:ARNA)

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