Arena Pharmaceuticals (ARNA) Comes Off Highs, But Boasts $1B Market Cap
Tweet
Share
E-mailGet Alerts ARNA Hot Sheet
Join SI Premium – FREE
After opening over 90 percent higher, traders faded Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) somewhat. Shares now sit up 74 percent following last night's FDA panel backing of its weight loss drug.
The market cap has swelled to over $1 billion. While substantially higher, the valuation is still well below rival VIVUS' (Nasdaq: VVUS) $2.4 billion valuation.
A couple analysts have upgraded the stock this morning. Leerink Swann went to Outperform and Jefferies went to Buy. Both see shares at $9 or more, which suggests another 40 percent upside.
The market cap has swelled to over $1 billion. While substantially higher, the valuation is still well below rival VIVUS' (Nasdaq: VVUS) $2.4 billion valuation.
A couple analysts have upgraded the stock this morning. Leerink Swann went to Outperform and Jefferies went to Buy. Both see shares at $9 or more, which suggests another 40 percent upside.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hunterbrook bullish on Modine Manufacturing (MOD)
- Jefferies Starts Faraday Copper Corp (FDY:CN) (CPPKF) at Buy
- Jefferies Downgrades Sunway Healthcare Holdings (SUNMED:MK) to Hold
Create E-mail Alert Related Categories
FDA, Momentum Movers, Trader TalkRelated Entities
Jefferies & CoSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
