Arena Pharmaceuticals (ARNA) : 2 brokerage houses believe that Arena Pharmaceuticals (ARNA) is a Strong Buy at current levels. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Arena Pharmaceuticals (ARNA). Zacks Investment Research suggests a Sell with a rank of 4. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 4 Wall Street Analysts endorse the stock as a Buy with a rating of 2.25.
Arena Pharmaceuticals (ARNA) : The consensus price target for Arena Pharmaceuticals (ARNA) is $3.75 for the short term with a standard deviation of $0.35. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $4, however, the pessimist price target for the company is $4.
Arena Pharmaceuticals (NASDAQ:ARNA): After opening at $1.59, the stock dipped to an intraday low of $1.55 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.74 and the buying power remained strong till the end. The stock closed at $1.74 for the day, a gain of 12.99% for the day session. The total traded volume was 7,678,857. The stocks close on the previous trading day was $1.54.
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.