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.
Latest Ratings for ARNA
|Sep 2016||FBR Capital||Initiates Coverage on||Outperform|
|Nov 2013||Wallachbeth||Initiates Coverage on||Buy|
|Oct 2013||Cowen & Co.||Initiates Coverage on||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.