In a report released today, Prakhar Agrawal from JonesTrading reiterated a Buy rating on Arena Pharma (ARNA), with a price target of $94.00. The company’s shares closed last Wednesday at $64.30.
According to TipRanks.com, Agrawal is a 1-star analyst with an average return of -5.4% and a 20.0% success rate. Agrawal covers the Healthcare sector, focusing on stocks such as Arcutis Biotherapeutics, Phathom Pharmaceuticals, and Aldeyra Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arena Pharma with a $100.00 average price target, which is a 55.1% upside from current levels. In a report issued on April 26, Credit Suisse also initiated coverage with a Buy rating on the stock with a $102.00 price target.
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Arena Pharma’s market cap is currently $3.88B and has a P/E ratio of -9.20. The company has a Price to Book ratio of 3.85.
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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.
