Arena down as SA author highlights 'multiple red flags'

|About: Arena Pharmaceuticals, Inc. (ARNA)|By:, SA News Editor

Arena Pharmaceuticals (ARNA -2.4%) is a strong sell on multiple red flags, says SA contributor The Pump Stopper.

Among these is the company's failure to disclose an SEC investigation, heavy insider selling, Belviq sales roughly 80% below expectations, and a new formidable competitor OREX awaiting what could be imminent FDA approval of its own product.

Price target: $1.25, or about 80% below the current level.