Leerink Swann Upgrades Arena Pharma (ARNA) to Outperform; Positive Panel Vote For Lorcaserin
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Price: $99.98 --0%
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Leerink Swann upgraded Arena Pharma (NASDAQ: ARNA) from Market Perform to Outperform, price target range $9-11.
Analyst, Steve Y. Yoo, said, "Yesterday, ARNA received a FDA advisory panel vote in convincingly in favor (18 yes votes, 4 no, 1 abstention) of lorcaserin approval to treat obesity. The advisory panel felt comfortable with the preclinical cancer signals because of the margin of safety demonstrated. The panel members were more cautious on the CV risk assessment and valvulopathy assessment but thought those issues should be addressed in post-approval studies. We expect launch of lorcaserin (PDUFA date to occur in 4Q12/1Q13 timeframe) as the post-approval requirements are negotiated and the DEA scheduling takes place."
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 $3.66 yesterday.
Analyst, Steve Y. Yoo, said, "Yesterday, ARNA received a FDA advisory panel vote in convincingly in favor (18 yes votes, 4 no, 1 abstention) of lorcaserin approval to treat obesity. The advisory panel felt comfortable with the preclinical cancer signals because of the margin of safety demonstrated. The panel members were more cautious on the CV risk assessment and valvulopathy assessment but thought those issues should be addressed in post-approval studies. We expect launch of lorcaserin (PDUFA date to occur in 4Q12/1Q13 timeframe) as the post-approval requirements are negotiated and the DEA scheduling takes place."
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 $3.66 yesterday.
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