), and raised its price target from $20.00 to $24.00. Maxim Group noted, “We believe the management-estimated ponatinib launch timeline is a bit optimistic. If FDA approval comes a quarter later than expected, some of the early expenses on commercial operation could become wasted. That said, we are positive on an eventual accelerated regulatory approval of ponatinib and believe ponatinib will likely grab a significant share in CML market. We are maintaining our revenue estimates, assuming $1.3B ponatinib global peak sales, while raising expense assumptions in 2012-2014 but reducing expense assumptions in the years after. Our new price target of $24 is supported by a 10-year DCF analysis, mainly on the net present value of ponatinib.” Ariad Pharmaceuticals closed on Thursday at $18.14.