Arena Pharma (ARNA) PT Cut to $5 at BofA/Merrill Lynch on Weaker Belviq Sales
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Price: $99.98 --0%
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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BofA/Merrill Lynch analyst Steve Byrne reiterated an Underperform rating and lowered his price target on Arena Pharma (NASDAQ: ARNA) to $5.00 (from $6.00) following Q2 results citing a weaker Belviq trajectory.
Byrne notse the next key catalyst will be data from the lorcaserin/phentermine combination study,which is expected by YE.
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 $4.46 yesterday.
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