Leerink Partners Remains Bullish Following ARIAD Pharma's (ARIA) ESMO Presentation

October 10, 2016 8:39 AM EDT
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Price: $23.71 -0.17%

Rating Summary:
    11 Buy, 13 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Leerink Partners reiterated an Outperform rating and $20.00 price target on ARIAD Pharmaceuticals (NASDAQ: ARIA) following the company's presentation at ESMO.

Analyst Michael Schmidt commented, "ARIA presented a poster with incrementally updated results from its Phase I/II trial of brigatinib in ALK+ NSCLC at ESMO today. In addition, updates from other ALK inhibitors, including Roche's alectinib and NVS' (MP) ceritinib were presented which reaffirmed our thesis that brigatinib is a differentiated ALK inhibitor given its long PFS, strong CNS activity, and ability to inhibit most known ALK resistance mutations as differentiating, while QD dosing provides convenience advantages. We reiterate our OP rating on ARIA based on our thesis that Iclusig will deliver above consensus sales growth while Street expectations for the company's pipeline products including brigatinib and AP32788 are low."

For an analyst ratings summary and ratings history on ARIAD Pharmaceuticals click here. For more ratings news on ARIAD Pharmaceuticals click here.

Shares of ARIAD Pharmaceuticals closed at $13.40 yesterday.

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