Ariad Pharmaceuticals Inc fka ARIA

[grandma_of_jbraika]

BOA's AP26113 valuation was $6/share; the same BOA analyst Rachel McMinn is giving AP26113 a ZERO valuation now.

When ARIA was at $22 on 09/10/2012, she upgraded ARIA to buy from Neutral with PT $26 (AP26113 alone $6/sh).

20 days later, Rachel McMinn raised price target to $30 from $26 when the price rose to $25 on 10/1/2012.

Now, the same Rachel McMinn at BOA is giving AP26113 a ZERO/share valuation!

Bank of America Upgrades Ariad Pharmaceuticals to Buy on Risk/Reward, by David Johnson, September 10, 2012

Bank of America raised its rating on Ariad Pharmaceuticals (NASDAQ: ARIA [FREE Stock Trend Analysis]) from Neutral to Buy and increased its price objective from $20 to $26.

Bank of America noted, "Despite ARIA shares +80% YTD performance, we are upgrading from Neutral to Buy based on the favorable risk/reward profile on near term data for ‘113 in lung cancer and subsequent Phase 2 expansion results, as well as our less conservative view of valuation for lead drug PON. While our new PO of $26 (up from $20) does not reflect a large premium to the current stock price, we see 15-70% upside to shares following upcoming lung cancer data (Sept 28-30). The key near term risk to ARIA is negative results for ‘113 ($6/sh of our current valuation), which seems unlikely given trial progress and management's enthusiasm."

Ariad Pharmaceuticals closed at $22.01 on Friday.

BOA ML raised ARIA PT to $30.00 from $26.00 on 10/12/2012 when ARIA was at $25+.