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UPDATE: Oppenheimer Upgrades Ariad Pharmaceuticals on Revised Outlook Following Recent Updates


In a report published Monday, Oppenheimer analyst David Ferreiro upgraded the rating on Ariad Pharmaceuticals (NASDAQ: ARIA) from Perform to Outperform, and raised the price target from $23.00 to $24.00.

In the report, Oppenheimer noted, “Following ARIA's recent updates at ESMO, we revised our outlook on ARIA's pipeline, focusing on the AP26113 program in ALK+ NSCLC as well as Iclusig in first-line CML. Regarding Iclusig, we continue to have high conviction in Iclusig's efficacy and thus believe it will achieve significant adoption in the first-line setting, despite Gleevec genericization. The '113 program in ALK+ NSCLC is also compelling, in our view; we believe '113 is a much stronger contender than Novartis's LDK378, given the cleaner safety profile, and anticipate meaningful uptake in the crizotinib-refractory setting. We are raising our PT from $23 to $24 and upgrading to Outperform.”

Ariad Pharmaceuticals closed on Friday at $18.69.

Latest Ratings for ARIA

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

View More Analyst Ratings for ARIA
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Posted-In: David Ferreiro OppenheimerAnalyst Color Upgrades Analyst Ratings

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