Arena Pharma (NASDAQ:ARNA) Upgraded Ahead Of Clinical Data Release

BENZINGA | on Wed, Jan 3, 4:47 PM

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA[1]) received an upgrade from Wall Street on Wednesday as it awaits Phase 2 data for the S1P modulator etrasimod in ulcerative colitis. The Analyst Wells Fargo's Jim Birchenough[2] upgraded Arena Pharmaceuticals[3] from Market Perform to Outperform and increased the price target for the stock from $19 to $53. The Thesis Wells Fargo upgraded the stock following significant progress in 2017 on ralinepag for pulmonary arterial hypertension, a drug that co...

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