JonesTrading analyst Prakhar Agrawal reiterated a Buy rating on Arena Pharma (ARNA) yesterday. The company’s shares closed last Tuesday at $76.81.
According to TipRanks.com, Agrawal is a 2-star analyst with an average return of 9.5% and a 71.4% success rate. Agrawal covers the Healthcare sector, focusing on stocks such as Arcutis Biotherapeutics, Phathom Pharmaceuticals, and Aldeyra Therapeutics.
Arena Pharma has an analyst consensus of Strong Buy, with a price target consensus of $86.67, representing a 7.6% upside. In a report issued on February 24, Needham also assigned a Buy rating to the stock with a $80.00 price target.
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Arena Pharma’s market cap is currently $4.83B and has a P/E ratio of -10.80. The company has a Price to Book ratio of 4.49.
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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. The company was founded by Dominic P. Behan and Jack Lief on April 14, 1997 and is headquartered in San Diego, CA.
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