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UPDATE: Bank of America Downgrades Ariad Pharmaceuticals on Uncertain Iclusig Outlook

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In a report published Thursday, Bank of America analyst Rachel McMinn downgraded the rating on Ariad Pharmaceuticals (NASDAQ: ARIA) from Buy to Neutral, and lowered the price target from $24.00 to $7.00.

In the report, Bank of America noted, “We rate ARIA a Neutral based on our view that uncertainties on the Iclusig safety profile will weaken near term adoption, limit visibility on timelines for future development, and limit overall market potential. ARIA's emerging second drug '113 potential is also uncertain given safety concerns and a competitive development environment.”

Ariad Pharmaceuticals closed on Wednesday at $5.83.

Latest Ratings for ARIA

DateFirmActionFromTo
Aug 2014CitigroupMaintainsSell
Aug 2014JMP SecuritiesMaintainsMarket Outperform
Jun 2014UBSMaintainsNeutral

View More Analyst Ratings for ARIA
View the Latest Analyst Ratings

Posted-In: Bank of America Rachel McMinnAnalyst Color Downgrades Analyst Ratings

 

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