Arena Pharmaceuticals (ARNA) Earns Coverage Optimism Rating of 0.10

Headlines about Arena Pharmaceuticals (NASDAQ:ARNA) have been trending somewhat positive recently, according to Alpha One Sentiment Analysis. Alpha One, a subsidiary of Accern, identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Arena Pharmaceuticals earned a media sentiment score of 0.10 on Alpha One’s scale. Alpha One also assigned news coverage about the biopharmaceutical company an impact score of 0 out of 100, meaning that recent news coverage is extremely unlikely to have an effect on the company’s share price in the next several days.

Here are some of the news articles that may have effected AlphaOne’s rankings:

Arena Pharmaceuticals (NASDAQ:ARNA) traded up 6.09% during midday trading on Friday, hitting $1.22. The company had a trading volume of 2,237,388 shares. The firm’s market cap is $387.27 million. The stock has a 50 day moving average of $1.33 and a 200 day moving average of $1.45. Arena Pharmaceuticals has a 52-week low of $1.13 and a 52-week high of $2.16.

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

A number of equities research analysts have commented on ARNA shares. Leerink Swann started coverage on Arena Pharmaceuticals in a research report on Friday. They issued an “outperform” rating and a $5.00 target price on the stock. FBR & Co restated an “outperform” rating on shares of Arena Pharmaceuticals in a research report on Monday, January 23rd. Finally, Zacks Investment Research upgraded Arena Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.50.

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In other Arena Pharmaceuticals news, insider Amit Munshi bought 50,000 shares of the stock in a transaction dated Wednesday, April 26th. The stock was bought at an average cost of $1.41 per share, for a total transaction of $70,500.00. Following the completion of the purchase, the insider now directly owns 1,875 shares of the company’s stock, valued at $2,643.75. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.14% of the stock is owned by company insiders.

Arena Pharmaceuticals Company 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).

5 Day Chart for NASDAQ:ARNA

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