Last night's data from Arena Pharmaceuticals' (ARNA) competitor to Celgene's (CELG) ozanimod looks at least comparable to if not slightly advantageous versus ozanimod in previously treated ulcerative colitis, Piper Jaffray analyst Christopher Raymond tells investors in a research note titled "Ozanimod's Competitive Outlook Just a Little Bit Less Clear With New ARNA Data." The analyst says that while there is "no perfect apples to apples comparison," Arena's etrasimod, at the very least, is competitive with ozanimod. He prefers to remain on the sidelines with respect to Celgene shares, noting consensus still models "sizeable uptake" for ozanimod. Raymond has a Neutral rating on Celgene with a $95 price target.