UPDATE: Barclays Downgrades Ariad Pharmaceuticals Following News of Iclusig Clinical Hold

In a report published Thursday, Barclays Capital analyst Ying Huang downgraded the rating on Ariad Pharmaceuticals ARIA from Overweight to Underweight, and lowered the price target from $25.00 to $4.00. In the report, Barclays Capital noted, “We are downgrading ARIA to UW from OW and reducing our price target to $4 from $25, on higher risk of Iclusig not receiving FDA approval as a front-line therapy for chronic myeloid leukemia (CML) and reduced peak sales in second-line treatment given safety concerns around cardiovascular, cerebrovascular, and peripheral vascular thrombosis. We see risk/reward skewed to the downside at current levels.” Ariad Pharmaceuticals closed on Wednesday at $5.83.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorDowngradesAnalyst RatingsBarclays CapitalYing Huang
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!