Arena Pharmaceuticals (NASDAQ:ARNA) : Zacks Investment Research ranks Arena Pharmaceuticals (NASDAQ:ARNA) as 2, which is a Buy recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 3 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 6 research analysts is 2.5, which indicates as a Buy.
Arena Pharmaceuticals (NASDAQ:ARNA) : The highest short term price target forecast on Arena Pharmaceuticals (NASDAQ:ARNA) is $4 and the lowest target price is $2. A total of 3 equity analysts are currently covering the company. The average price of all the analysts is $3 with a standard deviation of $1.32.
Company shares have received an average consensus rating of Hold for the current week
Arena Pharmaceuticals (NASDAQ:ARNA): stock turned positive on Tuesday. Though the stock opened at $1.68, the bulls momentum made the stock top out at $1.74 level for the day. The stock recorded a low of $1.68 and closed the trading day at $1.71, in the green by 3.64%. The total traded volume for the day was 1,382,230. The stock had closed at $1.65 in the previous days trading.
In an insider trading activity,The director of Arena Pharmaceuticals Inc, White Christine Anna sold 18,728 shares at $1.99 on June 13, 2016. The Insider selling transaction had a total value worth of $37,269. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Arena Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing drugs that target G protein-coupled receptors (GPCRs). The Companys 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 lorcaserins 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 Companys other drug candidates include ralinepag for vascular diseases, APD334 for autoimmune diseases, APD371 for pain and fibrotic diseases, and temanogrel for thrombotic diseases.