Equities researchers at Cowen and Company began coverage on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a research report issued on Thursday, Analyst Ratings.Net reports. The firm set a “market perform” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse cut their price target on shares of Arena Pharmaceuticals (NASDAQ:ARNA) from $5.00 to $4.00 in a research note to investors on Monday. They now have an “underperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $7.90 price target on the stock. Finally, analysts at Zacks upgraded shares of Arena Pharmaceuticals (NASDAQ:ARNA) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, August 2nd. They now have a $7.40 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $8.88.
Arena Pharmaceuticals (NASDAQ:ARNA) opened at 5.00 on Thursday. Arena Pharmaceuticals has a 1-year low of $4.78 and a 1-year high of $11.00. The stock’s 50-day moving average is $6.27 and its 200-day moving average is $7.4. The company’s market cap is $1.091 billion. Arena Pharmaceuticals also was the target of some unusual options trading on Monday. Stock investors acquired 10,692 call options on the company. This represents an increase of approximately 242% compared to the average volume of 3,130 call options.
Arena Pharmaceuticals (NASDAQ:ARNA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.03. The company had revenue of $68.90 million for the quarter, compared to the consensus estimate of $57.30 million. During the same quarter last year, the company posted ($0.12) earnings per share. Arena Pharmaceuticals’s revenue was up 214.6% compared to the same quarter last year. Analysts expect that Arena Pharmaceuticals will post $-0.14 EPS for the current fiscal year.
Arena Pharmaceuticals, Inc (NASDAQ:ARNA) is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors.
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