FBR Capital Initiates Coverage on Arena Pharmaceuticals to Outperform

FBR Capital Initiates Coverage on Arena Pharmaceuticals(NASDAQ:ARNA). The shares have been rated Outperform. The rating by FBR Capital was issued on Sep 15, 2016.

Arena Pharmaceuticals (ARNA) made into the market gainers list on Tuesdays trading session with the shares advancing 1.18% or 0.02 points. Due to strong positive momentum, the stock ended at $1.71, which is also near the day’s high of $1.78. The stock began the session at $1.71 and the volume stood at 12,04,393 shares. The 52-week high of the shares is $2.85 and the 52 week low is $1.3. The company has a current market capitalization of $416 M and it has 24,32,56,090 shares in outstanding.

Arena Pharmaceuticals(ARNA) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $9.51M. Analysts had an estimated revenue of $9.54M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Christine Anna White (director) sold 18,728 shares at $1.99 per share price.Also, On Apr 1, 2015, Randall E Woods (director) sold 76,268 shares at $4.49 per share price.On Mar 18, 2015, Steven W Spector (EVP, General Counsel & Sec) sold 70,000 shares at $5.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Arena Pharmaceuticals Inc. is a biopharmaceutical company focused on discovering developing and commercializing drugs that target G protein-coupled receptors (GPCRs). The Company’s drug BELVIQ (lorcaserin HCl) was approved by the United States Food and Drug Administration for marketing in the United States. In addition to BELVIQ the Company has other drug candidates and compounds at various stages of research and development. The Company is exploring lorcaserin’s once-a-day extended release formulation as an aid to smoking cessation in combination with phentermine and other agents for weight management and for other possible indications. The Company’s other drug candidates include ralinepag for vascular diseases APD334 for autoimmune diseases APD371 for pain and fibrotic diseases and temanogrel for thrombotic diseases.

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