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Arena Pharmaceuticals (ARNA) Worth Watching: Stock Surges 17.4%

Zacks Equity Research

Arena Pharmaceuticals, Inc. (ARNA) was a big mover last session, as the company saw its shares rise by over 17% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend of the company, as the stock is now trading above the volatile price range of $4.08 to $4.75 in the past one-month time frame.

The company has seen no estimate revisions over the past one month and the Zacks Consensus Estimate has remained unchanged over the same timeframe. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Arena Pharmaceuticals currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better performing biopharmaceutical stocks include Actelion Ltd. (ALIOF), Jazz Pharmaceutical plc (JAZZ) and Impax Labortories Inc. (IPXL). All these stocks hold a Zacks Rank #1 (Strong Buy).

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