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Should You Worry About the Short Interest in Arena Pharmaceuticals, Inc. (ARNA)?

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Many investors appear to be quite bearish Arena Pharmaceuticals, Inc. (ARNA) especially if you look at the percentage of the float that is sold short for this stock. Currently, 26.3% of the float is sold short, suggesting an extreme level of bearishness for ARNA.

However, it is worth noting that earnings estimates have actually been moving higher for the company, despite the pessimism. Thanks to these rising estimates, we actually have a Zacks Rank #2 (Buy) on ARNA, so we clearly don’t believe in the negativity surrounding this firm, and are instead looking for shares of ARNA to move higher in the weeks ahead.

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