$7.00 Price target..
UPDATE: Stifel Upgrades Ariad Pharmaceuticals on Physician Enthusiasm at ASH
11:23a ET December 10, 2013 (Benzinga)
In a report published Tuesday, Stifel analyst Joel Sendek upgraded the rating on Ariad Pharmaceuticals (NASDAQ: ARIA) from Hold to Buy, and named a $7.00 price target.
In the report, Stifel noted, “We upgrade ARIA from a Hold to a Buy with a price target of $7 based on the overwhelming support that docs at ASH showed for using Iclusig in a salvage population. Our discussions with physicians as ASH were universally positive regarding the risk/benefit for Iclusig and indicating continuing demand for the drug as a 3rd line agent for CML. We forecast resumption of commercial distribution in the US in 2Q14 with a black box warning label indicating increased risk of CV events, in line with the November EMA recommendation of risk factor assessment before treatment and monitoring during treatment.”
