Arena Pharmaceuticals Breaks Higher; Now Up 6+%

Shares of Arena Pharmaceuticals ARNA are trading higher today; currently, shares are up by 6.37%, trading at $1.67. The stock has been consolidating above the 20-day and 50-day moving averages for the past two weeks, preempting this break out. Arena Pharmaceuticals is poised to now test the 200-day moving average, ~$1.80. If it can clear the level, $2.00-2.38 could be in play. Note that Arena Pharmaceuticals has 13.46% short interest. Arena Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors, in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.