“: After assuming coverage of ARNA, we are publishing our new model, decreasing our 12-mo. price target from $67 to $62, and maintaining an Overweight rating. We updated our model for Arena’s deal with United Therapeutics (NC) for ralinepag. Our base case peak sales are $2.5B for etrasimod, and we also give some credit to Ph2 olorinab in pain and ralenipag royalties. We think bowel disease represents a large and growing market in immunology, and etrasimod is well-positioned with strong efficacy & safety in ulcerative colitis compared to Celgene’s (OW) S1P1 ozanimod.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.8% and a 47.6% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.
Arena Pharma has an analyst consensus of Strong Buy, with a price target consensus of $65.
Based on Arena Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $34.31 million. In comparison, last year the company had a GAAP net loss of $13.68 million.
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Arena Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel drugs that target G protien-coupled receptors. It offers drugs for treatment in the field of cardiovascular, central nervous system, inflammatory, and metabolic diseases.