Leerink Partners analyst Joseph Schwartz maintained a Buy rating on Arena Pharma (ARNA) on March 2. The company’s shares closed last Thursday at $73.15.
According to TipRanks.com, Schwartz is a 5-star analyst with an average return of 19.3% and a 51.3% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Applied Molecular Transport, Ultragenyx Pharmaceutical, and Mereo Biopharma Group Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arena Pharma with a $91.00 average price target, implying a 24.4% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $90.00 price target.
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Based on Arena Pharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $37K and GAAP net loss of $122 million. In comparison, last year the company earned revenue of $3 million and had a GAAP net loss of $88.31 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. 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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