ARIAD Pharma (ARIA): Cutting PT On Iclusig Pricing - Jefferies
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Jefferies analyst, Eun Yang, reiterated his Buy rating on shares of ARIAD Pharmaceuticals (NASDAQ: ARIA) but cut his price target to $11.00 from $13.00 on assumed Iclusig 30mg at price parity to 15mg/45mg dose reducing the company's revenue opportunity.
The analyst cut Iclusig revenue est's by ~23% in >2017. He stated "Iclusig's pricing scheme has been overly aggressive, there is a clear therapeutic value to Iclusig (saving CML pts lives). In addition, any pipeline success (AP32788, Iclusig in 2L CML, brigatinib in 1L ALK+ NSCLC), albeit new data not until ~2018, would potentially provide meaningful medium-/long-term upside to the price target".
Shares of ARIAD Pharmaceuticals closed at $9.34 yesterday.
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