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UPDATE: Credit Suisse Initiates Arena Pharmaceuticals at Underperform on Belviq Expectations

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Credit Suisse initiated its Arena Pharmaceuticals (NASDAQ: ARNA) at Underperform with a $6 price target.

Credit Suisse noted, "We are initiating with an Underperform rating and a $6 target price. ARNA commendably ushered Belviq through FDA; we believe that sales (ARNA has a ~35% royalty) will fall short of the market's lofty expectations."

Arena Pharmaceuticals closed at $9.16 on Wednesday.

Latest Ratings for ARNA

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

View More Analyst Ratings for ARNA
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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