Arena Pharmaceuticals, Inc. (ARNA) Hit 52-Week High

May 18, 2018 - By Ruby Caswell

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Logo

The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) hit a new 52-week high and has $48.38 target or 3.00 % above today’s $46.97 share price. The 9 months bullish chart indicates low risk for the $2.30 billion company. The 1-year high was reported on May, 18 by Barchart.com. If the $48.38 price target is reached, the company will be worth $69.12 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.68% or $0.32 during the last trading session, reaching $46.97. About 121,326 shares traded. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has risen 169.40% since May 18, 2017 and is uptrending. It has outperformed by 157.85% the S&P500.

Analysts await Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to report earnings on August, 6. They expect $-0.62 earnings per share, up 19.48 % or $0.15 from last year’s $-0.77 per share. After $-0.78 actual earnings per share reported by Arena Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -20.51 % EPS growth.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Ratings Coverage

Among 7 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Arena Pharmaceuticals has $6500 highest and $45.0 lowest target. $59’s average target is 25.61% above currents $46.97 stock price. Arena Pharmaceuticals had 14 analyst reports since January 3, 2018 according to SRatingsIntel. The company was upgraded on Tuesday, March 20 by Needham. The rating was maintained by Cantor Fitzgerald on Thursday, January 4 with “Buy”. As per Tuesday, February 27, the company rating was maintained by Citigroup. Cantor Fitzgerald maintained Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) on Wednesday, March 14 with “Buy” rating. The rating was maintained by Cantor Fitzgerald with “Buy” on Wednesday, April 18. Wells Fargo maintained Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) rating on Tuesday, March 20. Wells Fargo has “Buy” rating and $60.0 target. The company was maintained on Monday, February 26 by Cantor Fitzgerald. Cantor Fitzgerald maintained it with “Buy” rating and $6500 target in Wednesday, May 9 report. The firm has “Outperform” rating by Wells Fargo given on Wednesday, January 3. Leerink Swann maintained the shares of ARNA in report on Wednesday, January 17 with “Buy” rating.

More notable recent Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) news were published by: Seekingalpha.com which released: “Arena Pharmaceuticals’ (ARNA) CEO Amit Munshi presents at Bank of America Merrill Lynch Healthcare Brokers …” on May 18, 2018, also Seekingalpha.com with their article: “Arena Pharmaceuticals’ (ARNA) CEO Amit Munshi on Q1 2018 Results – Earnings Call Transcript” published on May 15, 2018, Streetinsider.com published: “Omega’s 13F Shows Increase in Ocwen (OCN), Synchrony (SYF), United (UAL), Exits Zynga (ZNGA) (More…)” on May 15, 2018. More interesting news about Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) were released by: Benzinga.com and their article: “Benzinga’s Daily Biotech Pulse: AstraZeneca’s Q1, Novartis-Amgen Migraine Drug Approved” published on May 18, 2018 as well as Globenewswire.com‘s news article titled: “Report: Developing Opportunities within Haemonetics, Arena Pharmaceuticals, Xperi, MoneyGram International, Boot …” with publication date: May 15, 2018.

Arena Pharmaceuticals, Inc., a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. The company has market cap of $2.30 billion. The companyÂ’s proprietary investigational clinical programs include etrasimod , which is in Phase IIb evaluation for ulcerative colitis, as well as is in Phase IIa evaluation for dermatologic extraintestinal manifestations in inflammatory bowel disease, pyoderma gangrenosum, and primary biliary cholangitis; ralinepag that is in Phase IIb evaluation to treat pulmonary arterial hypertension; and APD371, which is in Phase IIa evaluation for the treatment of pain associated with Crohn's disease. It currently has negative earnings. It has collaboration agreements with Eisai Inc.; Eisai Co., Ltd.; Axovant Sciences Ltd.; and Boehringer Ingelheim International GmbH.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Ratings Chart

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