In a report released today, Alan Carr from Needham maintained a Buy rating on Arena Pharma (ARNA), with a price target of $70. The company’s shares closed last Monday at $52.89.
According to TipRanks.com, Carr is a 3-star analyst with an average return of 0.6% and a 41.4% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arena Pharma with a $74.50 average price target.
See today’s analyst top recommended stocks >>
Based on Arena Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $61.4 million. In comparison, last year the company had a GAAP net loss of $31.83 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
