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UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Ariad Pharmaceuticals

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In a report published Monday, Jefferies & Company reiterated its Buy rating on Ariad Pharmaceuticals (NASDAQ: ARIA), but slightly lowered its price target from $28.00 to $27.00.

Jefferies noted, “With ponatinib approval for refractory/intolerant CML expected in U.S./EU in ~1Q13/3Q13, ARIA provided its commercial launch plan and a bit more details on ponatinib sales forecast, while refraining from providing profitability forecast (vs. our estimate of ~2016). Unlike ponatinib, AP26113 faces competition; we view its planned pivotal trial in ALK+ NSCLC in 2013 as important to maintain a competitive edge.”

Ariad Pharmaceuticals closed on Friday at $23.14.

Latest Ratings for ARIA

Jan 2017SunTrust Robinson HumphreyDowngradesBuyHold
Jan 2017BarclaysUpgradesUnderweightEqual-Weight
Jan 2017JefferiesDowngradesBuyHold

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