Arena Pharmaceuticals (ARNA) : Zacks Investment Research ranks Arena Pharmaceuticals (ARNA) as 3, which is a Hold 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 (ARNA) : The most positive equity analysts on Arena Pharmaceuticals (ARNA) expects the shares to touch $4, whereas, the least positive believes that the stock will trade at $2 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $3 with an expected fluctuation of $1.32 from the mean.
Company shares have received an average consensus rating of Hold for the current week
Arena Pharmaceuticals (NASDAQ:ARNA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.62 and $1.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.76. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.73, notching a gain of 6.13% for the day. The total traded volume was 1,007,575 . The stock had closed at $1.63 on the previous day.
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.