Arena Pharmaceuticals Stock News

Pfizer Buys Pharma Rival Arena In All-Cash Deal Worth $6.7 Billion Shares of Arena Pharmaceuticals have doubled in price in premarket trading after Pfizer announced that it had struck a deal to acquire its smaller rival for $100/share in a deal that values the San Deigo-based Arena at $6.7 billion. Pfizer believes it can finance the deal with cash on hand, and thanks to covid, it sure can. Fattened up with its vaccine profits, Pfizer is clearly seizing the opportunity to put some of that money to work by diversifying and paying growth. Investors in both companies should keep in mind that, as part of the deal, warrants will immediately cease to be outstanding and instead will be converted into the right to receive an amount in cash equal to the product of the excess, if any, of the Merger Consideration over the per-share exercise price of such of the options, multiplied by the number of shares then subject to such Company Option. In the press release, Pfizer''s Mike Gladstone said buying Arena would complement Pfizer''s expertise in immunology, specifically allowing it to better serve patients with immuno-inflammatory diseases. "The proposed acquisition of Arena complements our capabilities and expertise in Inflammation and Immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options," said Pfizer''s Mike Gladstone. "Utilizing Pfizer''s leading research and global development capabilities, we plan to accelerate the clinical development of etrasimod for patients with immuno-inflammatory diseases." Read the press release below: Pfizer and Arena Pharmaceuticals, Inc.(Nasdaq: ARNA) today announced that the companies have entered into a definitive agreement under which Pfizer will acquire Arena, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases.

Arena Pharmaceuticals (ARNA) stock is flying higher on Monday thanks to a huge $6.7 billion acquisition deal with Pfizer (PFE). The post ARNA Stock Alert: The Pfizer Deal That Has Arena Pharmaceutical

Pharmaceutical giant Pfizer Inc. (NYSE:PFE) is entering the cannabis space via the $6.7 billion acquisition of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). The two publicly-traded companies confirmed

Arena Pharmaceuticals Inc (NASDAQ: ARNA) is soaring Monday morning after Pfizer Inc (NYSE: PFE) announced it would acquire the company for $100 per share. The all-cash transaction represents a tota

Analysts are on board with Pfizer Inc.'s PFE, +1.34% plans to acquire Arena Pharmaceuticals Inc. ARNA, -5.33% in a deal worth $6.7 billion and announced Monday morning. Pfizer's stock was up 1.2% in p

The stock price of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) increased by over 85% pre-market today. This is why it happened.

Pfizer agrees to buy U.S. biotech company Arena Pharmaceuticals in a deal valued at about $6.7 billion.

Pfizer Inc (NYSE: PFE) has agreed to acquire Arena Pharmaceuticals Inc (NASDAQ: ARNA), a clinical-stage company developing therapies to treat several immuno-inflammatory diseases.  Under the agre

Pfizer agrees to buy U.S. biotech company Arena Pharmaceuticals in a deal valued at about $6.7 billion, according to a regulator filing Monday.

(Reuters) -Pfizer Inc has agreed to acquire Arena Pharmaceuticals in a $6.7 billion all-cash deal to expand its cancer and inflammatory disease treatment pipeline, the companies said on Monday.

Pfizer Inc. PFE, +1.34% said Monday it has agreed to acquire Arena Pharmaceuticals Inc. ARNA, -5.33% in a deal with a value of about $6.7 billion. The news sent Arena shares up 91% in premarket tradin

Wells Fargo & Company assumed coverage on shares of Arena Pharmaceuticals (NASDAQ:ARNA) in a research note issued to investors on Wednesday morning, Analyst Ratings Network reports. The firm issued an overweight rating and a $71.00 price target on the biopharmaceutical companys stock. A number of other analysts have also commented on the company. HC Wainwright []

Bank of America Corp DE lowered its holdings in shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) by 70.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,899 shares of the biopharmaceutical companys stock after selling 62,883 shares during the period. Bank of []

Equities research analysts predict that Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) will announce ($2.41) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Arena Pharmaceuticals earnings, with estimates ranging from ($2.52) to ($2.32). Arena Pharmaceuticals posted earnings of ($2.10) per share in the same quarter last year, which indicates []

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has received an average recommendation of Buy from the twelve research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings []