Jefferies Maintains Buy Rating and $16 PT on ARIAD Pharmaceuticals
A report from Jefferies reiterates its Buy rating and $16 price target on ARIAD Pharmaceuticals (NASDAQ: ARIA).
The report states, “Ahead of ASH (12/10-12/13) and potential ponatinib approval by early-2013/generic imatinib in 2016, we conducted a 50-hematologist/oncologist survey on CML/Ph+ ALL market dynamics. Our survey data shows likely significant off-label use of ponatinib in earlier settings upon approval, pointing to higher sales potential vs. our current estimates (~$1.35B vs. ~$915M).”
ARIA closed yesterday at $12.31.
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