Tuesday, December 1, 2020

Arena Pharmaceuticals Inc. [ARNA] Is Currently 1.92 below its 200 Period Moving Avg: What Dose This Mean?

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Arena Pharmaceuticals Inc. [NASDAQ: ARNA] gained 1.92% on the last trading session, reaching $87.14 price per share at the time. The company report on October 21, 2020 that Arena Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced that on October 15, 2020, the Compensation Committee of its Board of Directors granted to seven new employees inducement stock options to purchase an aggregate of 66,475 shares of its common stock and 11,760 inducement restricted stock units (“RSUs”). The inducement stock options and RSUs have a grant date and vesting commencement date of October 15, 2020, and were granted as inducements material to the new employees entering into employment with Arena in accordance with Nasdaq Listing Rule 5635(c)(4).


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The inducement stock options are non-qualified stock options, have a seven-year term, have an exercise price of $81.57 per share, the closing price of Arena’s common stock on the grant date, and vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in substantially equal monthly installments over the following 36 months, subject to the new employee’s continued service with Arena through the applicable vesting dates. The inducement RSUs vest over four years, with 25% of the shares vesting on the first quarterly vesting date on or following the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in 12 substantially equal quarterly installments occurring on the following 12 quarterly vesting dates, subject to the new employee’s continued service with Arena through the applicable vesting dates. The inducement stock options and inducement RSUs are subject to the terms and conditions of Arena’s Amended and Restated 2020 Long-Term Incentive Plan.

Arena Pharmaceuticals Inc. represents 57.65 million in outstanding shares, while the company has a total market value of $4.96 billion with the latest information. ARNA stock price has been found in the range of $84.92 to $87.59.

If compared to the average trading volume of 576.66K shares, ARNA reached a trading volume of 1083286 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Arena Pharmaceuticals Inc. [ARNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARNA shares is $93.15 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARNA stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Arena Pharmaceuticals Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 14, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on June 29, 2020, representing the official price target for Arena Pharmaceuticals Inc. stock. Previously, the target price had yet another raise to $62, while Jefferies analysts kept a Buy rating on ARNA stock.

The Average True Range (ATR) for Arena Pharmaceuticals Inc. is set at 3.02, with the Price to Sales ratio for ARNA stock in the period of the last 12 months amounting to 1078.64. The Price to Book ratio for the last quarter was 3.70, with the Price to Cash per share for the same quarter was set at 20.56.

Trading performance analysis for ARNA stock

Arena Pharmaceuticals Inc. [ARNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.02. With this latest performance, ARNA shares gained by 14.91% in over the last four-week period, additionally plugging by 70.96% over the last 6 months – not to mention a rise of 77.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARNA stock in for the last two-week period is set at 69.23, with the RSI for the last a single of trading hit 72.72, and the three-weeks RSI is set at 68.52 for Arena Pharmaceuticals Inc. [ARNA]. The present Moving Average for the last 50 days of trading for this stock 73.41, while it was recorded at 82.07 for the last single week of trading, and 58.69 for the last 200 days.

Arena Pharmaceuticals Inc. [ARNA]: A deeper dive into fundamental analysis

Arena Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 28.80 and a Current Ratio set at 28.80.

Arena Pharmaceuticals Inc. [ARNA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Arena Pharmaceuticals Inc. posted -1.46/share EPS, while the average EPS was predicted by analysts to be reported at -1.32/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARNA.

An analysis of insider ownership at Arena Pharmaceuticals Inc. [ARNA]

There are presently around $4,716 million, or 93.90% of ARNA stock, in the hands of institutional investors. The top three institutional holders of ARNA stocks are: BLACKROCK INC. with ownership of 5,862,674, which is approximately 14.957% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 5,147,706 shares of the stock with an approximate value of $448.57 million in ARNA stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $378.68 million in ARNA stock with ownership of nearly -8.526% of the company’s market capitalization.

140 institutional holders increased their position in Arena Pharmaceuticals Inc. [NASDAQ:ARNA] by around 13,824,028 shares. Additionally, 109 investors decreased positions by around 5,033,951 shares, while 32 investors held positions by with 35,264,171 shares. The mentioned changes placed institutional holdings at 54,122,150 shares, according to the latest SEC report filing. ARNA stock had 55 new institutional investments in for a total of 4,131,631 shares, while 31 institutional investors sold positions of 526,030 shares during the same period.

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