Needham analyst Joseph Stringer reiterated a Buy rating on Arena Pharmaceuticals on Tuesday, setting a price target of $80, which is approximately 30.53% above the present share price of $61.29.
Stringer expects Arena Pharmaceuticals to post earnings per share (EPS) of -$2.40 for the third quarter of 2021.
The current consensus among 8 TipRanks analysts is for a Strong Buy rating of shares in Arena Pharma (NASDAQ:ARNA), with an average price target of $94.86.
The analysts price targets range from a high of $120 to a low of $76.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $0 and a net profit of -$144.35 million. The company's market cap is $3.74 billion.
According to TipRanks.com, Needham analyst Joseph Stringer is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -13.0% and a 31.11% success rate.
Arena Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel drugs that target G protien-coupled receptors. It offers drugs for treatment in the field of cardiovascular, central nervous system, inflammatory, and metabolic diseases. The company was founded by Dominic P. Behan and Jack Lief on April 14, 1997 and is headquartered in San Diego, CA.