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ARNA

Arena Pharmaceuticals

$39.14

2.11 (5.70%)

07:17
04/19/18
04/19
07:17
04/19/18
07:17

Arena's APD371 'another underappreciated asset,' says Cantor Fitzgerald

Cantor Fitzgerald analyst William Tanner views Arena Pharmaceuticals' APD371 in Crohn's abdominal pain as "another underappreciated asset." Release of data from clinical testing is expected in Q2, but is unlikely to have a significant impact on the stock given its early nature, Tanner tells investors in a research note. He believes, however, that APD371's underlying pharmacology could positively position the drug candidate favorably versus other cannabinoid receptor modulators. The analyst raised his price target for the shares to $65 from $64 and keeps an Overweight rating on Arena Pharmaceuticals.

  • 20

    Apr

  • 21

    May

ARNA Arena Pharmaceuticals
$39.14

2.11 (5.70%)

03/20/18
NEED
03/20/18
UPGRADE
Target $60
NEED
Buy
Arena Pharmaceuticals upgraded to Buy at Needham on phase 2 UC data
As reported earlier, Needham analyst Alan Carr upgraded Arena Pharmaceuticals to Buy from Hold with a price target of $60. Carr cites the company's "impressive results" from its Phase 2 Ulcerative Colitis study unveiled yesterday, noting that the the safety and tolerability data components are also "encouraging". The analyst adds that the favorable outcome warrants an update to his pricing model, particularly in light of "substantial" unmet need in the Inflammation space where there are few S1P modulators currently in development.
03/20/18
JMPS
03/20/18
NO CHANGE
Target $79
JMPS
Outperform
Arena Pharmaceuticals price target raised to $79 from $63 at JMP Securities
JMP Securities analyst Jason Butler said Arena Pharmaceuticals' top-line results for etrasimod in ulcerative colitis meet or beat his best-case expectations and he has increased his view of the probability of success for etrasimod in UC to 75% from 50% following the report of the data. Given the higher odds he places on the success of the drug in that indication, Butler raised his price target on Arena shares to $79 from $63 and keeps an Outperform rating on the stock.
03/20/18
03/20/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Universal Display (OLED) upgraded to Buy from Hold at Gabelli with analyst Hendi Susanto saying he views the negative market response to a Bloomberg report that Apple (AAPL) is designing and producing MicroLED display prototypes as an overreaction and a buying opportunity. 2. Oneok (OKE) upgraded to Buy from Hold at Jefferies with analyst Christopher Sighinolfi saying he is confident in Oneok's ability to hit target returns on $4.2B of its current projects following a recent meeting with management. 3. PPG (PPG) upgraded to Buy from Hold at Deutsche Bank with analyst David Begleiter saying he believes the company's capital deployment and "valuation discount" are attractive. 4. Roku (ROKU) upgraded to Perform from Underperform at Oppenheimer with analyst Jason Helfstein upgraded Roku (ROKU) to Perform citing valuation and the company's opportunity in virtual multichannel video programming distribution. 5. Arena Pharmaceuticals (ARNA) upgraded to Buy from Hold at Needham with analyst Alan Carr citing the company's "impressive results" from its Phase 2 Ulcerative Colitis study, noting that the the safety and tolerability data components are also "encouraging." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/21/18
SBSH
03/21/18
NO CHANGE
Target $62
SBSH
Buy
Arena Pharmaceuticals price target raised to $62 from $55 at Citi
Citi analyst Joel Beatty raised his price target for Arena Pharmaceuticals to $62 after the company announced positive Phase 2 topline results for etrasimod in ulcerative colitis. The analyst increased his market penetration projections for etrasimod and maintained a 60% probability of success for the drug. He keeps a Buy rating on Arena Pharmaceuticals.

TODAY'S FREE FLY STORIES

GEMP

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Tesla

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BMI

Badger Meter

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KEG

Key Energy

$13.46

-0.18 (-1.32%)

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Basic Energy

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Basic Energy

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DAC

Danaos

$1.60

0.05 (3.23%)

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Danaos reports Q2 EPS 27c, one estimate 23c »

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  • 25

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AWK

American Water

$87.80

-0.8 (-0.90%)

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  • 29

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COLD

Americold Realty Trust

$25.25

-0.09 (-0.36%)

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PRNB

Principia Biopharma

$27.34

0.24 (0.89%)

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DCPH

Deciphera

$39.80

0.78 (2.00%)

16:42
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Initiation
Deciphera initiated  »

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  • 01

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BJ

BJ's Wholesale

$28.47

-0.68 (-2.33%)

16:42
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Syndicate
BJ's Wholesale files to sell 28M shares of common stock for holders »

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  • 28

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BPMC

Blueprint Medicines

$71.56

1.8 (2.58%)

16:41
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SGEN

Seattle Genetics

$78.57

0.53 (0.68%)

16:41
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Seattle Genetics initiated  »

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LOXO

Loxo Oncology

$163.07

3.91 (2.46%)

16:40
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Initiation
Loxo Oncology initiated  »

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  • 26

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INCY

Incyte

$66.48

-0.11 (-0.17%)

16:40
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  • 22

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AGIO

Agios Pharmaceuticals

$75.39

1.84 (2.50%)

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SMLR

Semler Scientific

$0.00

(0.00%)

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CLVS

Clovis

$32.63

0.22 (0.68%)

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SPX

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S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$291.09

-0.94 (-0.32%)

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TSRO

Tesaro

$36.41

-1.27 (-3.37%)

16:39
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Initiation
Tesaro initiated  »

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  • 01

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BGNE

BeiGene

$166.12

2.15 (1.31%)

16:38
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Initiation
BeiGene initiated  »

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  • 02

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BW

Babcock & Wilcox

$1.03

0.005 (0.49%)

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JAGX

Jaguar Health

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HST

Host Hotels

$20.89

-0.23 (-1.09%)

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Vornado

$73.52

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  • 25

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CWEN

Clearway Energy

$19.85

-0.1 (-0.50%)

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