CNBC's Jim Cramer says ARNA is a Buy

But he also tells longs who bought ARNA at lower levels to take profits and sell half their positions. Thanks but no thanks, I'm not selling any of my shares at these levels to his short cronies who are upside down and need to cover. There is nothing wrong with taking some profits off the table, but with two big pivotal events pending (independent Advisory Committee vote and PDUFA review), I'm staying long and strong. Every investor has different objectives and time lines, so decide for yourself, and don't be swayed by media "pundits" who may not have your best interests at heart. Good luck to all longs.

http://www.cnbc.com/id/38487197

Arena Pharmaceuticals [ARNA 7.95 0.97 (+13.9%) ]: ARNA is a buy, Cramer said. Thought the stock has enjoyed a big run, so investors who already have held the stock should have been taking some profits.

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Disclosure: long ARNA shares.