Needham analyst Alan Carr maintained a Buy rating on Arena Pharma (ARNA) today and set a price target of $70.00. The company’s shares closed last Tuesday at $48.83.
According to TipRanks.com, Carr is ranked 0 out of 5 stars with an average return of -6.3% and a 36.4% success rate. Carr covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Phathom Pharmaceuticals, and ACADIA Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arena Pharma with a $66.17 average price target, a 36.2% upside from current levels. In a report issued on April 1, Credit Suisse also maintained a Buy rating on the stock with a $77.00 price target.
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The company has a one-year high of $64.49 and a one-year low of $32.96. Currently, Arena Pharma has an average volume of 642.9K.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARNA in relation to earlier this year. Most recently, in February 2020, Steven Spector, the EVP, General Counsel & Sec of ARNA bought 7,970 shares for a total of $118,753.
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. The company was founded by Dominic P. Behan and Jack Lief on April 14, 1997 and is headquartered in San Diego, CA.
