Should You Exit: Sanchez Energy Corp (SN), Key Energy Services Inc. (KEG) And Arena Pharmaceuticals, Inc. (ARNA)
New York, NY – GDP INSIDER – 12/29/2014.
Sanchez Energy Corp (NYSE:SN), Key Energy Services, Inc. (NYSE:KEG), and Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) might be engaged in a different segment. However, they were facing one common issue, i.e. these companies were caught under the bear hammerings.
Though the shares of Sanchez Energy Corp (NYSE:SN) opened on green only, it started getting the hammerings as the day progressed on Friday. The company engaged in exploration and production apart from developing unconventional natural gas and oil resources in the Gulf coast. Therefore, the stock continued to witness selling pressure as the global oil price was trading at a five-year low.
The fact is that OPEC is not willing to reduce its production hurts investors’ sentiments on oil and gas stocks. There are already indications that the oil price would come down to $55 a barrel level. Therefore, investors’ were trying to take every opportunity to lock the profit in Sanchez Energy Corp (NYSE:SN).
The rating cut of Key Energy Services, Inc. (NYSE:KEG) shares continues to hurt investors’ sentiments towards the shares. Global Hunter Securities has downgraded shares of Key Energy Services to a rating of ‘reduce’ from ‘neutral’ by its analysts. On top of it, the brokerage has also slashed its price objective to $1.50 from $2.50.
The rating cut, slashing of price objective and the weak global price of oil would not do any good to Key Energy Services, Inc. (NYSE:KEG) stock. However, there was one analyst at Iberia Capital, who has upgraded the company’s stock to a rating of Outperform from ‘Sector Perform’. The brokerage has kept the price tag of $3.50 a share.
Recently, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) was granted a patent for its Ralinepag and related compounds for the treatment of vasospastic diseases like pulmonary arterial hypertension or PAH. The move came on the back of FDA granting the Ralinepag as orphan drug status. The company intends to start phase two study with the compound.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)’s President and CEO, Jack Lief, said that ralinepage would offer patients, as well as, physicians an improved treatment option for the treatment of PAH in addition to the currently available treatment.
UltimateStockAlerts.com provides investors and traders with trading strategies via text message and email. To obtain text message stock alerts service text the word ULTIMATE to 555888 from your cell phone.
UltimateStockAlerts continuously monitors and scans the markets for day trading and swing trading signals on NASDAQ, NYSE, AMEX, OTCBB and Pink Sheet companies for its free e-newsletter subscribers.
Disclosure: UltimateStockAlerts is not a registered investment adviser and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit www.UltimateStockAlerts.com website, for complete risks and disclosures.