Should You Exit: Sanchez Energy Corp (SN), Key Energy Services Inc. (KEG) And Arena Pharmaceuticals, Inc. (ARNA)

Posted by Michael Korte December 29, 2014 0 Comment 1173 views


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).

Is SN Going To Continue Selling Off Or Will Things Start Turning Around Soon? See What’s Next For SN With A Free Trend Report

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.

Could KEG Continue To Fall Or Will We Find Support In The Near Future? See What Is In The Cards For KEG With A Complementary Trend Analysis.

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.

Is ARNA Going To Continue To Lose Value Or Will Things Start To Turn Around? Find Out What’s Next For ARNA With A Free Trend Analysis Report

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About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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