Arena Pharmaceuticals (ARNA) : The consensus on Arena Pharmaceuticals (ARNA) based on 5 analyst recommendation on the company stock is 2.4, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Arena Pharmaceuticals (ARNA).
Arena Pharmaceuticals (ARNA) stock is expected to deviate a maximum of $0.35 from the average target price of $3.75 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $4 and the most muted being $4.
Company shares have received an average consensus rating of Hold for the current week Arena Pharmaceuticals (NASDAQ:ARNA): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.61 and $1.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.66, notching a gain of 3.11% for the day. The total traded volume was 718,124 . The stock had closed at $1.61 on the previous day.
In a related news, The director, of Arena Pharmaceuticals Inc, White Christine Anna had unloaded 18,728 shares at $1.99 per share in a transaction on June 13, 2016. The total value of transaction was $37,269. The Insider information was revealed by 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.