What’s Ahead for Arena Pharmaceuticals Inc (NASDAQ:ARNA) After Less Shorted Shares?

September 16, 2018 - By Margaret Guttierez

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Logo

The stock of Arena Pharmaceuticals Inc (NASDAQ:ARNA) registered a decrease of 5.74% in short interest. ARNA’s total short interest was 2.84M shares in September as published by FINRA. Its down 5.74% from 3.01M shares, reported previously. With 423,200 shares average volume, it will take short sellers 7 days to cover their ARNA’s short positions.

The stock increased 3.33% or $1.36 during the last trading session, reaching $42.18. About 568,321 shares traded or 7.01% up from the average. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has risen 66.28% since September 16, 2017 and is uptrending. It has outperformed by 50.66% the S&P500.

Arena Pharmaceuticals, Inc., a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. The company has market cap of $2.08 billion. The companyÂ’s proprietary investigational clinical programs include etrasimod , which is in Phase IIb evaluation for ulcerative colitis, as well as is in Phase IIa evaluation for dermatologic extraintestinal manifestations in inflammatory bowel disease, pyoderma gangrenosum, and primary biliary cholangitis; ralinepag that is in Phase IIb evaluation to treat pulmonary arterial hypertension; and APD371, which is in Phase IIa evaluation for the treatment of pain associated with Crohn's disease. It currently has negative earnings. It has collaboration agreements with Eisai Inc.; Eisai Co., Ltd.; Axovant Sciences Ltd.; and Boehringer Ingelheim International GmbH.

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Ratings Coverage

Among 6 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Arena Pharmaceuticals had 8 analyst reports since March 20, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, March 20 by Needham. The stock has “Buy” rating by Cantor Fitzgerald on Wednesday, May 9. As per Tuesday, March 20, the company rating was maintained by Cantor Fitzgerald. The rating was maintained by Cantor Fitzgerald on Wednesday, April 18 with “Buy”. The company was maintained on Tuesday, August 7 by Credit Suisse. The stock has “Buy” rating by Wells Fargo on Tuesday, March 20.

Another recent and important Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) news was published by Streetinsider.com which published an article titled: “Arena Pharma (ARNA) Presented Phase 1 Clinical Data for Ralinepag in Pulmonary Arterial Hypertension at the …” on August 28, 2018.

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