Ariad Pharmaceuticals Inc fka ARIA

[zuize]

3/26/2014 BMO Capital Markets Reiterated Rating

FWIW, on January 24th, BMO upgraded Ariad from market perform to out perform, and raised their target from $8 to $14.

Thanks, BR
definitely a great news!

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March 26, 2014 9:13 AM EDT
BMO Capital analyst Jim Birchenough, M.D. reiterated an Outperform rating and 414 price target on ARIAD Pharmaceuticals (NASDAQ: ARIA) after the company announced the initiation of ALTA, a pivotal global phase 2 study of AP26113 in patients with locally advanced or metastatic non-small cell lung cancer (NSCLC) who test positive for ALK oncogene and have progressed on XALKORI treatment.

"In a meeting with the BMO Capital Markets Biotech team yesterday, ARIA expressed confidence that the new dosing strategy could effectively mitigate the pulmonary toxicity of AP26113 observed in a previous study, while retaining efficacy," the analyst notes. He also said, "Prior phase 1/2 experience suggests a high level of efficacy with AP26113 in ALK+, XALKORI failures, with a best-in-class profile in terms of consistent brain met regression." Lastly he highlights, "With about 50% of XALKORI failures progressing with brain metastases, AP26113 could be the second-line drug of choice in ALK+ patients with potential upside in frontline patients.

http://www.streetinsider.com/Analyst+Comments/BMO+Capital+Positive+on+ARIAD+Pharmaceuticals+%28ARIA%29+on+Initiation+of+AP26113+Pivotal+Study/9317982.html