Rodman & Renshaw Maintain Market Outperform Rating and $15 PT on ARIAD Pharmaceuticals

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

A report from Rodman & Renshaw reiterates its Market Outperform rating and $15 price target on ARIAD Pharmaceuticals (NASDAQ: ARIA).The report states, “We believe ARIA shares are not fundamentally driven by earnings, therefore any EPS “beat” or “miss” is largely irrelevant. As a reminder,we expect ARIA to report FY 3Q11 EPS of $0.27 driven by receipt of a $25mm milestone payment in the quarter from Merck for the filing of ridaforolimus with the EMEA, as well as an estimated ~$35mm positive accounting effect from revaluation of existing warrants liability. Further, we forecast R&D and SG&A spend for the quarter to come in at $19.0mm and $6.4mm, respectively."ARIA closed yesterday at $11.63.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!