Arena Pharmaceuticals Rating Increased to Overweight at Piper Jaffray (ARNA)

By admin | 6 years ago

Arena Pharmaceuticals (NASDAQ: ARNA) was upgraded by research analysts at Piper Jaffray (NYSE: PJC) from a “neutral” rating to an “overweight” rating in a report released on Friday.

Shares of Arena Pharmaceuticals opened at 6.36 on Friday. Arena Pharmaceuticals has a 52 week low of $1.23 and a 52 week high of $3.47. The company’s market cap is $1.161 billion.

ARNA has been the subject of a number of other recent research reports. Analysts at Needham & Company reiterated a “hold” rating on shares of Arena Pharmaceuticals in a research note to investors on Friday. Separately, analysts at Leerink Swann upgraded shares of Arena Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note to investors on Friday. Finally, analysts at Jefferies Group (NYSE: JEF) upgraded shares of Arena Pharmaceuticals from an “underperform” rating to a “buy” rating in a research note to investors on Friday. They now have a $1.00 price target on the stock, down previously from $9.00.

Arena Pharmaceuticals, Inc. (Arena) is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing oral drugs that target G protein-coupled receptors (GPCRs), in four major therapeutic areas: cardiovascular, central nervous system, inflammatory and metabolic diseases.

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