Summer Street Upgrades Arena Pharma (ARNA) to Neutral; Some Clarity From This Week’s FDA Meeting

Article Stock Quotes (1) Comments (0)

Summer Street upgraded Arena Pharma (NASDAQ: ARNA) from Sell to Neutral.

Summer St. analyst says, "We have the US lorcaserin launch in 2013 and profitability in 2015, which is in line with company guidance. However, we point out that the requests from the FDA are not a slam dunk and we expect the company will need to raise additional cash prior to an approval if all goes well. In the meantime, we expect the shares to remain in a narrow trading range."

For more ratings news on Arena Pharma click here and for the rating history of Arena Pharma click here.

Shares of Arena Pharma closed at $1.80 yesterday, with a 52 week range of $1.45-$8.00.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
• Wells Fargo Upgrades ProLogis (PLD) to Outperform
• Arena Pharmaceuticals (ARNA) Weakens Mid-Day

Create E-mail Alert Related Categories

Upgrades

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?