Arena Pharmaceuticals Inc. (ARNA): Today's Featured Drugs Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Arena Pharmaceuticals (ARNA) pushed the Drugs industry lower today making it today's featured Drugs laggard. The industry as a whole closed the day down 0.4%. By the end of trading, Arena Pharmaceuticals fell 16 cents (-1.8%) to $8.54 on light volume. Throughout the day, four million shares of Arena Pharmaceuticals exchanged hands as compared to its average daily volume of 8.8 million shares. The stock ranged in price between $8.52-$8.80 after having opened the day at $8.63 as compared to the previous trading day's close of $8.70. Other companies within the Drugs industry that declined today were: Amarin Corporation (AMRN), down 18.9%, Corcept Therapeutics (CORT), down 11.7%, China Botanic Pharmaceutical (CBP), down 11.6%, and Chelsea Therapeutics International (CHTP), down 10.1%.
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