Market Overview

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

Share:
Related ARIA
Mid-Afternoon Market Update: Crude Oil Up Over 3%; Lumber Liquidators Shares Spike Higher
5 Biggest Mid-Day Losers For Friday

In a report published Thursday, Barclays analyst Ying Huang downgraded the rating on Ariad Pharmaceuticals (NASDAQ: ARIA) from Overweight to Underweight, and lowered the price target from $25.00 to $4.00.

In the report, Barclays 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.

Latest Ratings for ARIA

DateFirmActionFromTo
May 2016Cowen & CompanyUpgradesMarket PerformOutperform
Mar 2016JMP SecuritiesMaintainsMarket Outperform
Jan 2016BarclaysInitiates Coverage onUnderweight

View More Analyst Ratings for ARIA
View the Latest Analyst Ratings

Posted-In: Barclays Capital Ying HuangAnalyst Color Downgrades Analyst Ratings

 

Related Articles (ARIA)

View Comments and Join the Discussion!