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Steven Spector Unloaded 30,001 Shares of Arena Pharmaceuticals, Inc. (ARNA); Palatin Technologies (NYSEAMERICAN:PTN) Shorts Lowered By 1.35%

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Palatin Technologies Inc (NYSEAMERICAN:PTN) had a decrease of 1.35% in short interest. PTN’s SI was 4.98M shares in April as released by FINRA. Its down 1.35% from 5.05 million shares previously. With 2.24M avg volume, 2 days are for Palatin Technologies Inc (NYSEAMERICAN:PTN)’s short sellers to cover PTN’s short positions. The stock decreased 5.63% or $0.08 during the last trading session, reaching $1.34. About 2.28M shares traded or 24.49% up from the average. Palatin Technologies, Inc. (NYSEAMERICAN:PTN) has risen 230.50% since April 19, 2017 and is uptrending. It has outperformed by 218.95% the S&P500.

Among 10 analysts covering Arena Pharmaceuticals (NASDAQ:ARNA), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. Arena Pharmaceuticals has $64.0 highest and $2 lowest target. $40.56’s average target is 3.60% above currents $39.15 stock price. Arena Pharmaceuticals had 25 analyst reports since October 28, 2015 according to SRatingsIntel. The stock has “Buy” rating by Cantor Fitzgerald on Thursday, January 4. The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has “Buy” rating given on Wednesday, July 12 by Citigroup. The company was maintained on Tuesday, March 20 by Wells Fargo. Leerink Swann maintained the stock with “Buy” rating in Monday, July 17 report. The company was maintained on Wednesday, March 14 by Cantor Fitzgerald. The stock has “Buy” rating by Needham on Tuesday, March 20. The firm earned “Buy” rating on Wednesday, November 8 by Cantor Fitzgerald. As per Wednesday, November 11, the company rating was maintained by RBC Capital Markets. The stock of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has “Outperform” rating given on Wednesday, January 3 by Wells Fargo. The company was maintained on Wednesday, January 17 by Leerink Swann.

Arena Pharmaceuticals Inc EVP – General Counsel & Sec and an insider Steven Spector lately sold 30,001 company shares having a worth of $1,037,058 at an average market price per share of $34.6. Steven Spector currently owns 19,690 shares or 0.04% of the Company’s total market cap (Market Capitalization is a measurement of business value based on share price and number of shares outstanding). This sale was made on 18-04-2018. A public form submitted with the Washington-based Security and Exchange Commission and at your disposal for a review here, provides details of the sale.

The stock increased 5.73% or $2.12 during the last trading session, reaching $39.15. About 1.35M shares traded or 0.72% up from the average. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has risen 169.40% since April 19, 2017 and is uptrending. It has outperformed by 157.85% the S&P500.

Analysts await Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) to report earnings on May, 8. They expect $-0.70 EPS, up 22.22% or $0.20 from last year’s $-0.9 per share. After $-0.36 actual EPS reported by Arena Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts 94.44% negative EPS growth.

Arena Pharmaceuticals, Inc., a biopharmaceutical company, focuses on developing novel small molecule drugs for various therapeutic areas in the United States and Switzerland. The company has market cap of $1.92 billion. The companyÂ’s proprietary investigational clinical programs include etrasimod , which is in Phase IIb evaluation for ulcerative colitis, as well as is in Phase IIa evaluation for dermatologic extraintestinal manifestations in inflammatory bowel disease, pyoderma gangrenosum, and primary biliary cholangitis; ralinepag that is in Phase IIb evaluation to treat pulmonary arterial hypertension; and APD371, which is in Phase IIa evaluation for the treatment of pain associated with Crohn's disease. It currently has negative earnings. It has collaboration agreements with Eisai Inc.; Eisai Co., Ltd.; Axovant Sciences Ltd.; and Boehringer Ingelheim International GmbH.

Palatin Technologies, Inc., a biopharmaceutical company, develops targeted, receptor-specific peptide therapeutics for the treatment of various diseases in the United States. The company has market cap of $261.80 million. The companyÂ’s principal product is Bremelanotide, an as needed subcutaneous injectable peptide melanocortin receptor agonist, which is in the Phase III clinical studies for the treatment of premenopausal women with hypoactive sexual desire disorder . It has a 11.17 P/E ratio. The Company’s drug development programs also include melanocortin peptide system program, including PL-8177 is a selective melanocortin receptor 1 agonist peptide for inflammatory bowel diseases; and PL-8331, is a preclinical development candidate for treating ocular inflammation.

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) Institutional Positions Chart

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