Good Idea to Purchase Arena Pharmaceuticals Inc Here?

Arena Pharmaceuticals Inc’s stock showed a rise in short interest by 4.35%. According to FINRA, in June, Arena Pharmaceuticals Inc’s combined short interest was 3.38M shares. It has faced a 4.35% raise from the formerly reported 3.24M shares. Short sellers are expected to take 9 days to make up for ARNA’s short positions, with the shares average volume coming to 386,500.

In the latest trading period, the stock faced a rise of 1.63% (equivalent to $0.91) and consequently reached $56.79. Nearly 294,350 shares were traded.

Since June of the year 2018, Arena Pharmaceuticals, Inc. has increased by 22.67% and is still increasing. It has outpaced the S&P500 by 18.24%.

The biopharmaceutical firm is centered on producing new small molecule medicines so as to cater to numerous therapeutic regions in the U.S. and Switzerland.

Of the 4 analysts that cover ARNA, 0 of them have to Sell and Hold rating, and 4 have Buy rating so, all of them are positive. As stated by SRatingsIntel, since December 2018, Arena Pharmaceuticals has had 5 analyst reports. In the 3rd April statement, Credit Suisse kept it with “Outperform” rating. In the February account, Needham upheld it with a target of $60 and “Buy” rating. Cantor Fitzgerald maintained the rating with “Buy” on 26th February.

Seekingalpha.com published more significant news on Arena Pharmaceuticals, Inc. A report was published on the website, on the 26th of November, whose title implies how Arena Pharmaceuticals intends to broaden the senior management team. Another article, published on the 9th of November, was titled how the pipeline is center stage in spite of Arena Pharmaceuticals Q3 loss. Another news article was published on Prnewswire.com‘s website on the 8th of May 2019. Its title indicated how Arena Pharmaceutical has provided its corporate update and its financial results for the first quarter of 2019.

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