Just Bought. Undervalued Just saw Leerink Gave ARNA $11 to $12 Target. LINK
Leerink Swann Resumes Arena Pharma (ARNA) at Outperform
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February 6, 2013 7:14 AM EST
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Leerink Swann initiates coverage on Arena Pharma (NASDAQ: ARNA) with a Outperform rating and $11-$12 valuation range.
The firm comments, "Our due diligence points to a significant transformation occurring in the obesity space, similar in scope to smoking cessation a decade ago. The result should be a robust market expansion story advanced by: 1) novel more potent drugs; 2) increasing reimbursement; 3) significant sales & marketing efforts, and; 4) more approvals of effective therapies with co-morbid disease benefits. While the VVUS (OP) Qsymia launch has been slow, ARNA/Eisai's Belviq upcoming launch should work synergistically to broaden the market."