Arena Pharmaceuticals PT Lowered to $7.00 (ARNA)
“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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