Arena Pharmaceuticals To Release Briefing Documents On September 14 Over Lorcaserin

Arena Pharmaceuticals, Inc. ARNA has had its price target lowered to $5 (from $6) by Jefferies & Company, whic believes that the Lorcaserin heart valve safety analysis didn't meet the FDA cutoff, given the history of this class of weight loss drugs. Arena Pharmaceuticals will release safety data documents on September 14, which will be re-evaluated as Jefferies remains on the sidelines after witnessing a 100% stock appreciation from the company. Arena Pharmaceuticals, Inc. closed yesterday at $7.17 and is maintained as "hold".