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UPDATE: Jefferies Raises PT to $20 on Arena Pharmaceuticals on Belviq FDA Aproval

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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

DateFirmActionFromTo
Nov 2013WallachbethInitiates Coverage onBuy
Oct 2013Cowen & CompanyInitiates Coverage onMarket Perform
Oct 2013Piper JaffrayMaintainsOverweight

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Posted-In: JefferiesAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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