Arena Pharma (ARNA) BELVIQ Trends Remain Underwhelming, BMO Capital Notes

BMO Capital analyst Jim Birchenough reiterated a Market Perform rating and $9 price target on Arena Pharma (NASDAQ: ARNA) following Q1 results, with BELVIQ trends remaining underwhelming.

Birchenough commented, "We are maintaining our Market Perform rating on the shares of ARNA following review of 1Q15 operating results. BELVIQ launch trends remain modest and efforts to stimulate growth so late in the launch cycle are unlikely to be successful, in our view. We believe that pipeline development remains critical but ARNA appears behind competition in developing oral alternatives to injectable drugs for autoimmune disease and PAH and features of differentiation appear unclear."

For an analyst ratings summary and ratings history on Arena Pharma click here. For more ratings news on Arena Pharma click here.

Shares of Arena Pharma closed at $4.15 yesterday.

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