Arena Pharma (ARNA) Receives a Buy from Needham


In a report issued on August 8, Alan Carr from Needham maintained a Buy rating on Arena Pharma (ARNA), with a price target of $70. The company’s shares closed on Friday at $54.10.

According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.8% and a 41.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.

Arena Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $74.50, which is a 37.7% upside from current levels. In a report issued on August 7, RBC Capital also maintained a Buy rating on the stock with a $79 price target.

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Arena Pharma’s market cap is currently $2.68B and has a P/E ratio of 4.70. The company has a Price to Book ratio of 2.24.

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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.

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