UPDATE: Jefferies Raises PT to $20 on Arena Pharmaceuticals on Belviq FDA Aproval
Jefferies reiterates its Buy rating on Arena Pharmaceuticals (NASDAQ: ARNA) and raises its price target from $9 to $20.
Jefferies says, "Belviq has been approved by the FDA. We believe the Belviq label is a major positive for ARNA, as it lacks a restrictive REMS or cardiovascular monitoring requirements. We remain buyers of ARNA and are raising our price target from $9 to $20."
ARNA closed at $11.39 on Wednesday.
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