Needham Sticks to Its Hold Rating for Arena Pharma

By Carrie Williams

Needham analyst Alan Carr maintained a Hold rating on Arena Pharma (NASDAQ: ARNA) today. The company’s shares opened today at $39.86, close to its 52-week high of $44.50.

Carr noted:

“Arena mgmt provided a corporate update today in a 4Q17 conference call. Mgmt reiterated guidance for top-line results from etrasimod Phase 2 trial in Ulcerative Colitis (UC) later this month. Preclinical and Phase 1 data suggest the drug has the potential for differentiation in the S1P receptor modulator space. We await outcome, maintaining HOLD. Mgmt also discussed ralinepag Phase 3 trial design in Pulmonary Arterial Hypertension (PAH). Three trials are planned, two of which mgmt believes are independently sufficient for regulatory approval. Mgmt plans to provide more details around cost and time to completion mid-2018 after protocols are finalized.”

According to, Carr is a 4-star analyst with an average return of 8.9% and a 46.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Arena Pharma has an analyst consensus of Strong Buy, with a price target consensus of $54.40.

Based on Arena Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $7.95 million and GAAP net loss of $32.35 million. In comparison, last year the company earned revenue of $85.37 million and had a net profit of $38.57 million.

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Arena Pharmaceuticals, Inc. is a biopharmaceutical company engages in the discovery, development, and commercialization of novel drugs that target G protien-coupled receptors. It offers a range of drugs for treatment in the field of cardiovascular, central nervous system, inflammatory, and metabolic diseases. The company was founded by Dominic P.