Arena Pharmaceuticals (NASDAQ: ARNA) had its price target decreased by JPMorgan Chase to $7.00 in a research report released on Tuesday morning.

“We continue to see few signs that the early launch of Belviq will avoid the problems VVUS is currently experiencing with its weight loss drug, Qsymia (including slow uptake and a meaningful number of pts not filling their prescription due to a relatively high out-of-pocket cost). In fact, Belviq could well experience a more lackluster launch vs. Qsymia given the drug’s higher price and more modest level of efficacy. Maintain Neutral.,” the firm’s analyst wrote.

Shares of Arena Pharmaceuticals traded down 0.91% during mid-day trading on Tuesday, hitting $8.4522. Arena Pharmaceuticals has a one year low of $1.71 and a one year high of $13.50. The stock’s 50-day moving average is currently $8.60. The company’s market cap is $1.838 billion.

Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann initiated coverage on shares of Arena Pharmaceuticals in a research note to investors on Wednesday, February 6th. They set an outperform rating and a $12.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at TheStreet reiterated a sell rating on shares of Arena Pharmaceuticals in a research note to investors on Monday, January 28th. Finally, analysts at TheStreet reiterated a sell rating on shares of Arena Pharmaceuticals in a research note to investors on Thursday, December 27th.

Three analysts have rated the stock with a buy rating, six have given a hold rating, one has given an underweight rating, and one has given a sell rating to the company. The stock has a consensus rating of hold and an average target price of $8.83.

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