Arena Pharmaceuticals initiated at Berenberg Arena Pharmaceuticals initiated with a Buy at. Berenberg analyst Patrick Trucchio initiated Arena Pharmaceuticals with a Buy rating and $55 price target, citing his view that ralinepag still has upside potential and that etrasimod may “emerge a winner in the crowded IBD area.” He also believes that olorinab, which is in Phase 2 development for visceral pain associated with IBD and IBS, may eventually be worth as much, or more, than ralinepag, Trucchio tells investors.
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