Market Overview

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

Share:

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

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

View More Analyst Ratings for ARIA
View the Latest Analyst Ratings

 

Related Articles (ARIA)

View Comments and Join the Discussion!

Posted-In: David Ferreiro OppenheimerAnalyst Color Upgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
FISGoldman SachsInitiates Coverage On164.0
INNRaymond JamesMaintains7.5
RHPRaymond JamesMaintains45.0
RLJRaymond JamesMaintains12.0
PKRaymond JamesMaintains13.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com