Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has launched Belviq, an anti-obesity drug


Dallas, Texas 07/18/2013 (Financialstrend) – The anti-obesity market was an interesting as Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has launched Belviq, an anti-obesity drug. VIVUS, Inc. (NASDAQ:VVUS) was operating as the only player in the anti-obesity market for a long time. However, the dynamics of the market has been changed due to entry by ARNA, and now there was a problem going head to head for this large market in the U.S. Sales figures for VIVUS, Inc. have also been very poor. Now with the launch of Belviq by ARNA, it is expected that the new entrant would prove successful in grabbing the market share that was not actually tapped by the early bird of VVUS.

It is anticipated that the anti obesity market would prove to generate greater revenues to ARNA through its new drug and thereby attract more investors to the stock. Though the recent gains in the share prices after the announcement of the launch of ARNA had only been minimal, it is however believed that once the sales figures the anti obesity drug are reported in this quarter, the company would take off to make significant returns. Investors may keep a close watch on this bio pharmaceutical company to grab it at the right time to cash in their returns.

There have been a gain of 0.56% in the shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) which closed at $7.18 per share on Wednesday. The stock had presented intraday fluctuations on the range of $7.12 to $7.32 per share, after opening at $7.15 for the day. The company had recorded 52 week low at $6.65 and 52 week high at $11.52 per share.

There are 217.78 million shares outstanding with a market cap of $1.56 billion and an institutional ownership of 48% of the total capital. The trading volume on Wednesday was 3.42 million shares and the average volume is at 5.89 million shares per day.