This Morning's Technical Outlook on Biotech Stocks -- Arena Pharma, Arrowhead Pharma, Axovant Sciences, and Biogen

Wednesday, January 31, 2018 Drug News
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NEW YORK, Jan. 31, 2018 /PRNewswire/ --WallStEquities.com strives to bring the best free research to the investment community. 

Today we are offering reports on ARNA, ARWR, AXON, and BIIB which can be accessed for free by signing up to www.wallstequities.com/registration. The Biotech sector started off the year strong with multiple acquisitions and partnerships, beginning
to usher in the long-awaited M&A spike, according to a Seeking Alpha report. Furthermore, unlike last October, earnings season this time has opened strongly and is not hurting the building biotech momentum, added the report. Ahead of today's trading session, WallStEquities.com turns investors' attention to Arena Pharmaceuticals Inc. (NASDAQ: ARNA), Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR), Axovant Sciences Ltd (NASDAQ: AXON), and Biogen Inc. (NASDAQ: BIIB). All you have to do is sign up today for this free limited time offer by clicking the link below.

www.wallstequities.com/registration

Arena Pharmaceuticals

San Diego, California-based Arena Pharmaceuticals Inc.'s shares gained 2.38%, closing Tuesday's trading session at $37.49. The stock recorded a trading volume of 529,496 shares. The Company's shares have advanced 8.23% in the last month, 34.71% over the previous three months, and 158.55% over the past year. The stock is trading 13.90% above its 50-day moving average and 59.60% above its 200-day moving average. Additionally, shares of Arena Pharma, which focuses on developing novel small molecule drugs for various therapeutic areas in the US and Switzerland, have a Relative Strength Index (RSI) of 57.09.

On January 18th, 2018, research firm Credit Suisse resumed its 'Outperform' rating on the Company's stock, with a target price of $44 per share. Get the full research report on ARNA for free by clicking below at:

www.wallstequities.com/registration/?symbol=ARNA

Arrowhead Pharmaceuticals

On Tuesday, shares in Pasadena, California headquartered Arrowhead Pharmaceuticals Inc. recorded a trading volume of 1.34 million shares. The stock declined slightly by 0.49%, ending the day at $6.14. The Company's shares have surged 54.66% in the past month, 68.22% in the previous three months, and 250.86% over the past year. The stock is trading above its 50-day and 200-day moving averages by 44.01% and 113.31%, respectively. Furthermore, shares of Arrowhead Pharma, which develops medicines for the treatment of intractable diseases in the US, have an RSI of 68.61. 

On January 05th, 2018, research firm B. Riley FBR, Inc. initiated a 'Neutral' rating on the Company's stock, with a target price of $3 per share.

On January 22nd, 2018, Arrowhead Pharma (ARWR) closed the previously announced underwritten public offering of 11,500,000 shares of its common stock, which included shares issued upon the exercise in full by the underwriters of their option to purchase 1,500,000 additional shares. The offering was priced at $5.25 per share, and ARWR received gross proceeds of approximately $60.4 million, before deducting underwriting discounts, commissions, and other offering expenses, payable by the Company. ARWR's complimentary research coverage is a few simple steps away at:

www.wallstequities.com/registration/?symbol=ARWR

Axovant Sciences

London, the UK-based Axovant Sciences Ltd's stock finished the day 3.72% lower at $2.07. A total volume of 1.85 million shares was traded, which was above their three months average volume of 1.54 million shares. The Company's shares are trading below their 50-day moving average by 52.50%. Additionally, shares of Axovant Sciences, which engages in developing and commercializing medicines for the treatment of dementia and related neurological disorders in the US and Europe, have an RSI of 23.72. 

On January 08th, 2018, Axovant Sciences announced that its investigational drug intepirdine did not meet its primary efficacy endpoints in the Phase-2b HEADWAY and pilot Phase-2 Gait and Balance studies. Separately, the Company's investigational drug nelotanserin met its prespecified primary endpoint of safety in the pilot Phase-2 Visual Hallucination study.

On January 10th, 2018, research firm Chardan Capital Markets upgraded the Company's stock rating from 'Sell' to 'Neutral', with a target price of $2.50 per share. Register for your free research report on AXON at:

www.wallstequities.com/registration/?symbol=AXON

Biogen

Shares in Cambridge, Massachusetts headquartered Biogen Inc. ended yesterday's session 1.64% lower at $352.59. The stock recorded a trading volume of 1.11 million shares. The Company's shares have advanced 10.07% in the last month, 14.57% over the previous three months, and 38.66% over the past year. The stock is trading 7.31% and 17.76% above its 50-day and 200-day moving averages, respectively. Moreover, shares of Biogen, which discovers, develops, manufactures, and delivers therapies for the treatment of neurological and autoimmune diseases worldwide, have an RSI of 59.19. 

On January 25th, 2018, Biogen reported its Q4 and full-year 2017 financial results. For Q4 2017, total revenues were $3.3 billion, GAAP net loss was $(297) million, and non-GAAP net income was $1.1 billion. For the full year 2017, total revenues were $12.3 billion, GAAP net income was $2.5 billion, and non-GAAP net income was $4.6 billion. Wall St. Equities' downloadable research report on BIIB available at:

www.wallstequities.com/registration/?symbol=BIIB

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