Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Up 1.52%, Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) Up 1.65%
Northern, WI 05/23/2013 (GDPInsider) – (NASDAQ:ARNA) is up 1.77% after starting the day at 7.90, 0.02 cents below its previous close of 7.92. The slight rally comes on volume of 1.078 million and so far the stock has a range of 7.84 and 8.07. Average volume is 5.326 million which means current trading activity is 79.75% below average.
ARNA got approval from the FDA for its weight loss drug Belviq, and launch to the buying public is set for some time in June 2013. Belviq works by suppressing the appetite and reports coming out of ARNA are that the drug has worked well during clinical trials.
The launch of Belviq should have some steam under ARNA which currently has a RSI of 49.72. The stock is an uptrend which is taking it towards its second resistance level of 8.11 and analysts have set a target of 8.36 for the stock.
Is ARNA a solid investment at these levels? Get exclusive data and trends here.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) opened trading at 5.34, 0.10 below its previous close of 5.44. Since the slow start THLD has rallied and is currently up 1.65% on volume of 158.36K – average volume is 597.61K. The stock has a range of 5.31 and 5.58 and THLD is down 40% on its 52-week high of 9.28. It is however up 39.49% on its 52-week low of 3.95.
THLD released its Q1 2013 financial report on May 2, 2013. In it, the company disclosed that revenues for the three months ended March 31, 2013, was $2.9 million. The company also reported a net loss for the quarter of $9.2 million, a solid 92.03% improvement on the next loss of $115.5 million reported in March 2012.
THLD’s technical chart shows a northward ascent which started at the start of May 2013. The stock is currently 12.91% above its 50-day simple moving average of 4.88. The stock has a RSI of 59.66 indicating that current market valuation has left room to support its upward momentum.
THLD has a market cap of $311.01 million and analysts have set a target of 13.25 for the stock.
How Should Investors Trade THLD Now? Get exclusive insights and updates here.
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