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UPDATE: Credit Suisse Downgrades Ariad Pharmaceuticals As Launch Metrics Are Still Weak

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In a report published Thursday, Credit Suisse analyst Jason Kantor downgraded the rating on Ariad Pharmaceuticals (NASDAQ: ARIA) from Neutral to Underperform, and lowered the price target from $8.00 to $6.00.

In the report, Credit Suisse noted, “We believe that Iclusig will likely remain the last option for CML patients who have specific resistant mutations or fail other therapies. Near-term US sales will benefit from the implementation of the new pricing strategy that doubled the 30 mg price. However, we think this will likely be short-lived and sales will face a drop in H2:15 when ARIA moves to true flat pricing. We are downgrading to Underperform and reducing our TP to $6 from $8. Model changes increase our 2015 EPS estimates and decrease our 2016 EPS estimate.”

Ariad Pharmaceuticals closed on Wednesday at $7.02.

Latest Ratings for ARIA

DateFirmActionFromTo
Jan 2017DowngradesBuyHold
Jan 2017UpgradesUnderweightEqual-Weight
Jan 2017DowngradesBuyHold

View More Analyst Ratings for ARIA
View the Latest Analyst Ratings

Posted-In: Credit Suisse Jason KantorAnalyst Color Downgrades Analyst Ratings

 

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