A Reversal for Arena Pharmaceuticals Inc (NASDAQ:ARNA) Is Not Near. The Stock Has Rise in Shorts

May 16, 2018 - By Nellie Hooten

Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Logo

The stock of Arena Pharmaceuticals Inc (NASDAQ:ARNA) registered an increase of 2.11% in short interest. ARNA’s total short interest was 3.79 million shares in May as published by FINRA. Its up 2.11% from 3.71 million shares, reported previously. With 926,000 shares average volume, it will take short sellers 4 days to cover their ARNA’s short positions. The short interest to Arena Pharmaceuticals Inc’s float is 9.68%.

The stock decreased 0.24% or $0.11 during the last trading session, reaching $46.58. About 579,650 shares traded. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has risen 169.40% since May 16, 2017 and is uptrending. It has outperformed by 157.85% 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 $2.29 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 7 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Arena Pharmaceuticals had 14 analyst reports since January 3, 2018 according to SRatingsIntel. The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) earned “Buy” rating by Citigroup on Tuesday, February 27. Needham upgraded the stock to “Buy” rating in Tuesday, March 20 report. The firm has “Buy” rating given on Wednesday, April 18 by Cantor Fitzgerald. Cantor Fitzgerald maintained it with “Buy” rating and $45.0 target in Monday, February 26 report. The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has “Buy” rating given on Thursday, January 4 by Cantor Fitzgerald. The company was maintained on Tuesday, March 20 by Cantor Fitzgerald. The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) earned “Buy” rating by Leerink Swann on Wednesday, January 17. Cantor Fitzgerald maintained the shares of ARNA in report on Wednesday, May 9 with “Buy” rating. Wells Fargo upgraded the stock to “Outperform” rating in Wednesday, January 3 report. The stock has “Buy” rating by Wells Fargo on Tuesday, March 20.

More notable recent Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) news were published by: Seekingalpha.com which released: “My 2 Cents On The Ozanimod Saga” on May 15, 2018, also Seekingalpha.com with their article: “Arena Pharmaceuticals’ (ARNA) CEO Amit Munshi on Q1 2018 Results – Earnings Call Transcript” published on May 15, 2018, Globenewswire.com published: “Report: Developing Opportunities within Haemonetics, Arena Pharmaceuticals, Xperi, MoneyGram International, Boot …” on May 15, 2018. More interesting news about Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) were released by: Streetinsider.com and their article: “Arena Pharma (ARNA), Outpost Medicine Enter into Licensing Agreement for Undisclosed Novel Compound” published on May 01, 2018 as well as Streetinsider.com‘s news article titled: “Omega’s 13F Shows Increase in Ocwen (OCN), Synchrony (SYF), United (UAL), Exits Zynga (ZNGA) (More…)” with publication date: May 15, 2018.

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

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