Is Arena Pharmaceuticals, Inc. (ARNA) a Stock to Watch After Losing -0.72% This Week?

Wednesday, October 06, 2021 02:51 PM | InvestorsObserver Analysts

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Is Arena Pharmaceuticals, Inc. (ARNA) a Stock to Watch After Losing -0.72% This Week?

Overall market sentiment has been down on Arena Pharmaceuticals, Inc. (ARNA) stock lately. ARNA receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Arena Pharmaceuticals, Inc. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on ARNA!

See Full ARNA Report

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ARNA Stock Today?

Arena Pharmaceuticals, Inc. (ARNA) stock is trading at $59.51 as of 2:50 PM on Wednesday, Oct 6, an increase of $1.28, or 2.2% from the previous closing price of $58.23. The stock has traded between $56.56 and $59.58 so far today. Volume today is low. So far 141,690 shares have traded compared to average volume of 495,945 shares. To see InvestorsObserver's Sentiment Score for Arena Pharmaceuticals, Inc. click here.

More About Arena Pharmaceuticals, Inc.

Arena Pharmaceuticals is a biotechnology company targeting G-protein-coupled receptors. The company has one internally discovered drug, lorcaserin, which has been approved and is marketed in the U.S. and South Korea to target weight management. It is commercialized under the brand name Belviq. The company is collaborating with Eisai to market Belviq in other countries. It has a presence in Europe through its Swiss subsidiary, Arena GmbH. The company's pipeline contains drugs targeting autoimmune diseases, vascular diseases, thrombotic diseases, dementia-associated psychosis, nervous system issues, and pain. Click Here to get the full Stock Report for Arena Pharmaceuticals, Inc. stock.