5 Best Stocks to Invest Your $1000

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1. Arena Pharmaceuticals, Inc. (NASDAQ: ARNA)

Number of Hedge Fund Holders: 33

California-based Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) is a small molecule drugs company. Earlier in June, Credit Suisse added the stock to its “top outperform ideas” list. The FDA recently granted Orphan Drug Designation status to the company’s etrasimod, a treatment of eosinophilic esophagitis (EoE), a chronic, allergic inflammatory disease of the esophagus. In the first quarter, Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) posted GAAP EPS of -$1.98, beating the Street’s consensus by $0.20. Cash, cash equivalents and marketable securities came in at $1.1 billion.

VenBio Select Advisor currently owns 4.05 million shares of ARNA, worth $281 million. ARNA occupies 4.85% of VenBio Select’s overall equity.

You can also take a peek at 10 Best Cheap Tech Stocks to Buy According to Cathie Wood and 10 Best Stocks to Buy for Financial Independence.

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