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Fly News Breaks for February 27, 2018
ARNA
Feb 27, 2018 | 08:02 EDT
Citi analyst Joel Beatty raised his price target for Arena Pharmaceuticals to $55 to reflect increased value expectations for etrasimod. The analyst now sees a 60% probability of approval in ulcerative colitis and he also added sales estimates for Crohn's disease. He sees $6-$12 of share upside and $18% of potential downside for the Phase II data for etrasimod in Q1. Beatty keeps a Buy rating on Arena shares.
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