UPDATE: Ariad Pharmaceuticals Downgraded by Citigroup
In a report published on Monday, lead analyst Yaron Werber downgraded Ariad Pharmaceuticals (NYSE: ARIA) from a Neutral/High Risk to Sell/High Risk yet raising price target to $5.50 from $2.50.
The reported stated, “While the earlier than expected return of Iclusig to the US market is a positive, we expect the re-launch to be challenging with a tightly restricted label and headwinds from the current safety profile. We see more potential for negative surprise over the next 12-mos +model lower sales ests than consensus.”
ARIA closed Friday at $7.15 and is currently trading at $6.71.
Latest Ratings for ARIA
|Dec 2014||Credit Suisse||Downgrades||Neutral||Underperform|
|Aug 2014||JMP Securities||Maintains||Market Outperform|
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