Arena Pharmaceuticals Inc. (NASDAQ:ARNA) traded today at a new 12-month high of $100.00. Approximately 748,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.
Potential upside of 0.2% exists for Arena Pharmaceuticals Inc., based on a current level of $99.99 and analysts’ average consensus price target of $100.19.
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.
In the past 12 months, Arena Pharmaceuticals Inc. share prices are bracketed by a low of $45.50 and a high of $100.00 and are now at $99.99, 120% above that low price.
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