Brokerage Firm Rating Update on Arena Pharmaceuticals (ARNA)

Arena Pharmaceuticals (ARNA) : Zacks Investment Research ranks Arena Pharmaceuticals (ARNA) as 4, which is a Sell 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 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 4 research analysts is 2.25, which indicates as a Buy.

Arena Pharmaceuticals (ARNA) : The highest level Arena Pharmaceuticals (ARNA) is projected to reach is $4 for the short term and the lowest estimate is at $4. The consolidated price target from 2 rating analysts who initiate coverage on the stock is $3.75 and the possibility the share price can swing is $0.35.


Company shares have received an average consensus rating of Hold for the current week

Arena Pharmaceuticals (NASDAQ:ARNA): The stock opened at $1.53 and touched an intraday high of $1.58 on Wednesday. During the day, the stock corrected to an intraday low of $1.53, however, the bulls stepped in and pushed the price higher to close in the green at $1.55 with a gain of 0.65% for the day. The total traded volume for the day was 782,043. The stock had closed at $1.54 in the previous trading session.

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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