Arena Pharmaceuticals Incorporated (NASDAQ:ARNA) Just Reported Decreased Shorts

Isaac Cain
June 19, 2017

Equities research analysts predict that Arena Pharmaceuticals will post ($0.33) earnings per share for the current year. They issued an "overweight" rating and a $4.00 target price for the company. The 200 SMA is considered so critically important a trend indicator that the event of the 50-day SMA crossing to the downside of the 200-day SMA is referred to as a death cross, signaling a serious bear market in a stock, index or other investment. Analysts have placed a $3.5 price target on Arena Pharmaceuticals, Inc., suggesting a 167.18% gain from recent close. Wall Street analysts covering the stock are projecting that the stock will reach $3.5 within the next 52-weeks.

Leerink Swann began coverage on shares of Arena Pharmaceuticals, Inc. Axa has 37,400 shares.

COPYRIGHT VIOLATION NOTICE: "Arena Pharmaceuticals (ARNA) Receiving Somewhat Favorable Media Coverage, Report Shows" was first posted by Chaffey Breeze and is the property of of Chaffey Breeze.

Arena Pharmaceutical (NASDAQ:ARNA)'s revenue estimates for the current quarter are $5.4 Million according to 7 number of analysts, for the current quarter the company has high revenue estimates of $8.5 Million in contradiction of low revenue estimates of $3.1 Million.

More notable recent Arena Pharmaceuticals, Inc.

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The stock of Arena Pharmaceuticals Incorporated (NASDAQ:ARNA) registered a decrease of 0.75% in short interest. The company had Year Ago Sales of 9.51 Million. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -5.76% where SMA50 and SMA200 are -5.43% and -15.15% respectively.

Arena Pharmaceuticals (NASDAQ:ARNA) last issued its earnings results on Tuesday, May 9th. The company beat the analyst EPS Estimate with the difference of $-0.01. Arena Pharmaceuticals had a negative return on equity of 108.77% and a negative net margin of 19.07%. The business had revenue of $6.60 million for the quarter, compared to analyst estimates of $4.84 million. Earnings, with 7 analysts believing the company would generate an Average Estimate of $-0.08. The firm had revenue of $6.60 million for the quarter, compared to analysts' expectations of $4.84 million.

Large investors have recently made changes to their positions in the stock.

Shares of Arena Pharmaceuticals, Inc. Shares of Arena Pharmaceuticals are scheduled to reverse split on Monday, June 19th. Renaissance Technologies LLC now owns 8,479,445 shares of the biopharmaceutical company's stock valued at $12,380,000 after buying an additional 957,190 shares during the period. Metropolitan Life Insurance Co. (NASDAQ:ARNA) to announce earnings per share of ($0.08) for the current quarter, Zacks Investment Research reports. NY now owns 172,165 shares of the biopharmaceutical company's stock valued at $251,000 after buying an additional 17,565 shares in the last quarter. Tudor Investment Corp Et Al boosted its position in Arena Pharmaceuticals by 200.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 141,225 shares of the biopharmaceutical company's stock valued at $206,000 after buying an additional 68,966 shares during the period. D E Shaw And accumulated 0% or 97,419 shares. The shares were acquired at an average price of $1.41 per share, with a total value of $70,500.00. The stock of Arena Pharmaceuticals, Inc.

Since May 12, 2017, it had 1 insider purchase, and 0 selling transactions for $29,750 activity. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Hedge funds and other institutional investors own 48.99% of the company's stock. Cwm Ltd Liability Company stated it has 0% in Arena Pharmaceuticals, Inc. The Company is focused on developing small molecule drugs across a range of therapeutic areas. The Firm has three primary investigational clinical programs: etrasimod 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).

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