Ariad Pharmaceuticals Inc fka ARIA

[glass_half_full]

I agree. The post-discounting value is not a huge portion of the price -- but, IMHO, if you're going to list it as part of the value, you need a down-side risk factor as well.

It doesn't need to be big, but really, it should be there. JMHO.

Which is really why sell-side analysis is free and plentiful -- and why buy-side analysis is expensive and rare.

Cheers!