Arena Pharmaceuticals (ARNA): Price Target and June Short Interest Disclosure

Arena Pharmaceuticals (ARNA) : 3 investment research analysts covering Arena Pharmaceuticals (ARNA) have an average price target of $3 for the near short term. The highest target price given by the Brokerage Firm to the stock is $4 and the lowest target is $2 for the short term. Analysts expect the variance to be within $1.32 of the average price.

Arena Pharmaceuticals (ARNA), According to the latest information the short interest in Arena Pharmaceuticals, Inc. plummeted by 5.7% or 789,001 shares. The final shorts are 5.4% of the total floated shares. The positions dropped from 13,745,474 shares on June 15,2016 to 12,956,473 on June 30,2016. According to the per-day average trading of 1,394,288 shares, the days to cover are 9. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.


Arena Pharmaceuticals (NASDAQ:ARNA): stock turned positive on Thursday. Though the stock opened at $1.74, the bulls momentum made the stock top out at $1.74 level for the day. The stock recorded a low of $1.62 and closed the trading day at $1.63, in the green by 1.88%. The total traded volume for the day was 2,090,626. The stock had closed at $1.6 in the previous days trading.

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.

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