Leerink Swann Resumes Arena Pharma (ARNA) at Outperform

February 6, 2013 7:14 AM EST
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Price: $1.42 --0%

Rating Summary:
    5 Buy, 10 Hold, 5 Sell

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Leerink Swann initiates coverage on Arena Pharma (NASDAQ: ARNA) with a Outperform rating and $11-$12 valuation range.

The firm comments, "Our due diligence points to a significant transformation occurring in the obesity space, similar in scope to smoking cessation a decade ago. The result should be a robust market expansion story advanced by: 1) novel more potent drugs; 2) increasing reimbursement; 3) significant sales & marketing efforts, and; 4) more approvals of effective therapies with co-morbid disease benefits. While the VVUS (OP) Qsymia launch has been slow, ARNA/Eisai's Belviq upcoming launch should work synergistically to broaden the market."

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 $8.63 yesterday.

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