Editor’s Note: Related tickers: Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), VIVUS, Inc. (NASDAQ:VVUS), Orexigen Therapeutics, Inc. (NASDAQ:OREX), Wells Fargo & Co (NYSE:WFC), Eisai Co., Ltd (ADR) (OTCMKTS:ESALY)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA)‘s stock had its “positive” rating reaffirmed by equities research analysts at Leerink Swann in a research note issued to investors on Wednesday, Stock Ratings Network reports. A number of other analysts have also recently weighed in on ARNA. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) in a research note to investors on Tuesday, June 11th. They now have a $12.50 price target on the stock, up previously from $9.00. Analysts at Credit Suisse cut their price target on shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) from $6.00 to $5.00 in a research note to investors on Monday, May 6th.
What Is Belviq, the New Weight Loss Drug? (HuffingtonPost)
Belviq is a new weight loss drug that just became available by prescription this past week, one of only two new weight loss drugs approved by the FDA in the last 13 years. (The other is Qsymia, which I have already written about.) It is made by Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). Belviq is the trade name, Lorcaserin is the generic name, and it was called Lorqess during its development. Belviq affects the serotonin receptors in the brain, changing the neurotransmitter action of serotonin, the brain chemical you hear about related to mood.
Arena, Vivus Look Good (And It Has Nothing to Do With the AMA) (InvestorPlace)
Score another one for weight-loss pharmaceutical makers Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), VIVUS, Inc. (NASDAQ:VVUS) and, eventually, Orexigen Therapeutics, Inc. (NASDAQ:OREX). The American Medical Association — against a recommendation not to — has deemed obesity to be a disease, with all the rights and privileges thereof. Specifically, the AMA believes the “disease” designation will change the way the healthcare and insurance industries treat the disease now that it’s recognized as more than a mere “condition.” Translation: Doctors should start prescribing medicine as an obesity treatment, and insurance companies should start reimbursing it.
Arena Pharmaceuticals (NASDAQ:ARNA) To Make First Post-Launch Presentation (MarketPlayground)
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and marketing partner Eisai Co., Ltd (ADR) (OTCMKTS:ESALY) launched the anti-obesity drug, Belviq, on June 7th, 2013. Investors are eagerly awaiting some initial results on early sales, but as yet channel checks have not materialized. It could be that the first hints we get about the sales traction of Belviq will happen when Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) conducts a presentation at the Wells Fargo & Co (NYSE:WFC) Securities Healthcare Conference in Boston, MA on Wednesday, June 19th. It has long been my opinion that the sales of Belviq is the catalyst that the street is looking for. With competitor VIVUS, Inc. (NASDAQ:VVUS) seeing modest sales of its drug Qsymia, which launched last Fall, the biggest question is whether or not anti-obesity drugs can gain consumer traction in the current environment.
Obesity Gets Some Respect (ARNA) (VVUS) (OREX) (StreetInsider)
Shares of obesity drug makers Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), VIVUS, Inc. (NASDAQ:VVUS) and Orexigen Therapeutics, Inc. (NASDAQ:OREX) are higher Wednesday after the American Medical Association officially recognized obesity as a disease. “Recognizing obesity as a disease will help change the way the medical community tackles this complex issue that affects approximately one in three Americans,” Dr. Patrice Harris, a member of the association’s board, said in a statement. Investors in obesity drug makers see the new classification as a positive.
