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ARNA

Arena Pharmaceuticals

$43.08

0.22 (0.51%)

, UTHR

United Therapeutics

$114.20

-0.34 (-0.30%)

20:01
01/24/19
01/24
20:01
01/24/19
20:01

United Therapeutics, Arena Pharmaceuticals close Ralinepag license deal

United Therapeutics (UTHR) announced the closing of the transactions contemplated by its license agreement with Arena Pharmaceuticals (ARNA). Under the agreement, United Therapeutics acquired exclusive, worldwide rights to develop and manufacture the Phase 3 investigational drug candidate ralinepag, a next-generation, oral, selective and potent prostacyclin receptor agonist in development for the treatment of pulmonary arterial hypertension. Upon closing, United Therapeutics paid Arena $800M. Arena is also entitled to potential milestone payments of up to $400M based on the achievement of certain regulatory events as well as low double-digit tiered royalties on annual net sales of ralinepag products. As previously announced, the closing of the transactions contemplated by the agreement was conditioned upon expiration or termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, among other conditions. The requisite waiting period expired on January 22, 2019, and closing occurred on January 24, 2019.

ARNA

Arena Pharmaceuticals

$43.08

0.22 (0.51%)

UTHR

United Therapeutics

$114.20

-0.34 (-0.30%)

ARNA Arena Pharmaceuticals
$43.08

0.22 (0.51%)

12/13/18
BREN
12/13/18
INITIATION
Target $55
BREN
Buy
Arena Pharmaceuticals initiated with a Buy at Berenberg
Berenberg analyst Patrick Trucchio initiated Arena Pharmaceuticals with a Buy rating and $55 price target, citing his view that ralinepag still has upside potential and that etrasimod may "emerge a winner in the crowded IBD area." He also believes that olorinab, which is in Phase 2 development for visceral pain associated with IBD and IBS, may eventually be worth as much, or more, than ralinepag, Trucchio tells investors.
11/19/18
FBCO
11/19/18
NO CHANGE
Target $61
FBCO
Outperform
Arena Pharmaceuticals price target raised to $61 from $56 at Credit Suisse
Credit Suisse analyst Martin Auster raised his price target for Arena Pharmaceuticals to $61 from $56 after he incorporated the upfront portion of the ralinepag licensing deal, and adjusted ralinepag's projections to account for potential royalties and R&D expenses associated with the program. The analyst reiterates an Outperform rating on the shares.
11/16/18
RBCM
11/16/18
NO CHANGE
Target $70
RBCM
Outperform
Arena Pharmaceuticals price target raised to $70 from $65 at RBC Capital
RBC Capital analyst Kennen MacKay raised his price target on Arena Pharmaceuticals (ARNA) to $70 and kept his Outperform rating after its $1.2B licensing deal with United Therapeutics (UTHR) for worldwide rights to Arena's pulmonary arterial hypertension drug candidate ralinepag. The analyst notes that the cash flow will reduce the company's R&D and commercial development spending, enabling the company to "focus on unlocking the value of crown jewel etrasimod without concern surrounding cash runway" while also demonstrating the value of its pipeline/medicinal chemistry.
09/25/18
CANT
09/25/18
NO CHANGE
Target $65
CANT
Overweight
Arena is 'underpromising and overdelivering,' says Cantor Fitzgerald
Cantor Fitzgerald analyst William Tanner says Arena Pharmaceuticals is again "underpromising and overdelivering" after announcing positive data from a Phase 2 trial of olorinab in subjects with abdominal pain associated with Crohn's disease. The analyst says previous conversations with management caused him to adopt a conservative viewpoint as it relates to the likelihood that the trial would yield results that could be interpreted as a clear sign of potential safety and efficacy. He believes last night's data "clearly establish olorinab as a viable drug worthy of advanced development." Tanner reiterates an Overweight rating on Arena Pharmaceuticals with a $65 price target.
UTHR United Therapeutics
$114.20

-0.34 (-0.30%)

10/12/18
STPT
10/12/18
UPGRADE
STPT
Buy
United Therapeutics upgraded to Buy from Hold at Standpoint Research
09/05/18
HCWC
09/05/18
NO CHANGE
Target $4
HCWC
Buy
MannKind valuation 'floor' raised with United deal, says H.C. Wainwright
H.C. Wainwright analyst Oren Livnat says United Therapeutics (UTHR) is the "ideal partner" for MannKind (MNKD) to develop and commercialize technosphere treprostinil dry powder inhalation for pulmonary arterial hypertension. The deal announced yesterday represents additional validation of MannKind's "underappreciated" DPI and delivery platforms beyond Afrezza, Livnat tells investors in a research note. Importantly, the deal brings in non-dilutive financing, "raises the floor" on MannKind's valuation, and "offers a new path to potential long-term upside from here even if Afrezza never reaches the potential we think it deserves," Livnat writes. The analyst reiterates a Buy rating on MannKind shares with a $4 price target. The stock closed yesterday up 89%, or 98c, to $2.08.
08/08/18
FBCO
08/08/18
DOWNGRADE
FBCO
Underperform
United Therapeutics downgraded to Underperform from Neutral at Credit Suisse
08/02/18
WEDB
08/02/18
NO CHANGE
Target $253
WEDB
Outperform
United Therapeutics price target raised to $253 from $234 at Wedbush
Wedbush analyst Liana Moussatos raised her price target for United Therapeutics to $253 from $234 following a "strong" Q2 earnings beat as generics delay launch. The analyst reiterates an Outperform rating on the shares.

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10:52
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CLD

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10:48
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Conference/Events
Morgan Stanley IT hard/software analyst to hold analyst/industry conference call »

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ALDX

Aldeyra

$10.89

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