UPDATE: JMP Securities Reiterates Coverage on ARIAD Pharmaceuticals, Sees Market Share Regain
In a report published Monday, JMP Securities analyst Michael King reiterated Market Outperform on ARAID Pharmaceuticals, Inc. (NASDAQ: ARIA), with a $10.00 price target.
According to the report, ARIA is gearing up to recapture market share in both the T315I and later-line CML market with a restored, slimmed-down version of its sales force specifically targeting high prescription writers.
“FY14 should continue to be a catalyst-filled year with several data updates planned for ASCO (including GIST data) and EHA, along with the start of the randomized multi-dose study that should commence by 2H14,” the report noted. “Overall, management commentary on several fronts reinforces our positive outlook for 2014.”
ARIA closed Friday at $6.74.
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