Maxim Group Reiterates Buy Rating, $28 PT on Ariad Pharmaceuticals
In a report published Monday, Maxim Group reiterated its Buy rating and $28.00 price target on Ariad Pharmaceuticals (NASDAQ: ARIA).
Maxim Group noted, “This morning ARIA hosted a conference call further explaining the phase I data (of an ongoing phase I/II trial) of AP26113 in NSCLC (non-small cell lung cancer) the company presented on Saturday, September 29, 2012 at the ESMO (European Society for Medical Oncology) meeting. AP26113 is ARIA's second lead drug candidate. It is a dual kinase inhibitor against ALK (anaplastic lymphoma kinase) and EGFR (epidermal growth factor receptor); the expression levels of the two kinases are 4% and 10%, respectively, in Western NSCLC population. Tarceva (erlotinib) and Xalkori (crizotinib) are already commercialized drugs against EGFR+ and ALK+ NSCLC, respectively.”
Ariad Pharmaceuticals closed on Friday at $24.21.
Latest Ratings for ARIA
|May 2016||Cowen & Company||Upgrades||Market Perform||Outperform|
|Mar 2016||JMP Securities||Maintains||Market Outperform|
|Jan 2016||Barclays||Initiates Coverage on||Underweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.