Hot Biotech Stocks: Arena Pharmaceuticals (NASDAQ:ARNA), Ariad Pharmaceuticals (NASDAQ:ARIA), MannKind Corporation (NASDAQ:MNKD), Oncomed Pharmaceuticals (NASDAQ:OMED)

One of the main reasons, analysts and pundits say, why Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) has not had success with its FDA-approved weight management drug known as Belviq, is lack of awareness. The company can however generate higher revenue from the sale of the drug with increased awareness. The market potential for the drug is already there given that about two-thirds of the U.S. adults have weight conditions. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) shares after opening at $6.27 moved to $6.33 on last trade day and at the end of the day closed at $6.18. Company price to sales ratio in past twelve months was calculated as 16.65 and price to cash ratio as 6.11. Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) showed a positive weekly performance of 0.00%.

H.C. Wainwright assumed coverage on Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) with a Buy rating from a Neutral rating based on expected Iclusig share gains and the lifting of partial clinical holds allowing investigators to look at new indications. Price target is $14. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) shares advanced 1.48% in last trading session and ended the day on $7.20. ARIA return on equity ratio is recorded as -98.50% and its return on assets is -65.80%. Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) yearly performance is -60.26%.

Stock analysts at Brinson Patrick started coverage on shares of MannKind (NASDAQ:MNKD) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $12.00 price target on the stock. Brinson Patrick’s price objective indicates a potential upside of 71.43% from the company’s current price. MannKind Corporation (NASDAQ:MNKD) shares moved down -2.19% in last trading session and was closed at $6.25, while trading in range of $6.22 – $6.46. MannKind Corporation (NASDAQ:MNKD) year to date (YTD) performance is 20.19%.

Oncomed Pharmaceuticals (NASDAQ:OMED) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday, American Banking News.com reports. They currently have a $31.60 target price on the stock. Zacks‘s price objective would suggest a potential downside of 4.96% from the stock’s previous close. Oncomed Pharmaceuticals Inc. (NASDAQ:OMED) weekly performance is -3.17%. On last trading day company shares ended up $25.99. Oncomed Pharmaceuticals Inc. (NASDAQ:OMED) distance from 50-day simple moving average (SMA50) is -19.95%. Analysts mean target price for the company is $44.60.