ARIAD Pharma (ARIA) Stock Set Up to Get Taken Down, Thinks Analyst

September 13, 2013 10:40 AM EDT
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Price: $23.75 +0.21%

Rating Summary:
    11 Buy, 13 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) Thursday announced that updated data from its Phase 1/2 trial of AP26113, an investigational inhibitor of anaplastic lymphoma kinase (ALK), epidermal growth factor receptor (EGFR) and c-ros oncogene 1 (ROS1), will be presented at the European Cancer Congress (the 38th ESMO, 32nd ESTRO, 17th ECCO) being held in Amsterdam, September 27 to October 1, 2013. In the view of Oppenheimer analyst David Ferreiro, data is unlikely to be impressive.

Ferreiro thinks positive expectations are priced in, setting the stock up for a 10% move to the downside if results show poor efficacy. If safety risks are raised, the stock could drop 20%.

Upside potential is 5% to 20%, said the analyst.

Oppenheimer has a Perform rating on ARIAD Pharmaceuticals with a price target of $23.00

For an analyst ratings summary and ratings history on ARIAD Pharmaceuticals (NASDAQ: ARIA) click here. For more ratings news on ARIAD Pharmaceuticals click here.

Shares of ARIAD Pharmaceuticals closed at $21.32 yesterday.

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