Rodman & Renshaw Maintains Outperform, $18 PT on Ariad Pharmaceuticals

Rodman & Renshaw reiterates its Outperform rating and $18 PT on Ariad Pharmaceuticals

as the company looks to develop a global commercial infrastructure on its own. Rodman & Renshaw says, "ARIA CEO, Harvey Berger, MD, presented today at the J.P. Morgan Healthcare conference, defining the company's future commercial strategy: to eschew partnerships and develop a global infrastructure for commercializing ponatinib and the company's pipeline independently. Put succinctly,Dr. Berger declared “No more partnerships”. Additionally, he described a number of efforts already under way toward this end, namely establishment of a European headquarters (Switzerland), initiation of named-patient programs in the EU, hiring of key personnel, and the company's efforts with KOLs and the regulatory agencies in Japan to date." ARIA closed at $13.77 per share on Tuesday.