Leerink Partners Starts ARIAD Pharmaceuticals (ARIA) at Outperform
- Global stocks sag as bond 'bloodbath' shows no sign of letting up
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Leerink Partners initiates coverage on ARIAD Pharmaceuticals (NASDAQ: ARIA) with a Outperform rating and a price target of $20.00.
Analyst Michael Schmidt commented, "Despite recent strong stock performance, ARIA shares still trade at a discount to other commercial stage Oncology Biotech companies while the top line is expected to grow above that of its peers with a 35% 2016-18E CAGR. Based on discussions with MEDACorp KOLs and our analysis of the CML market, we expect Iclusig to deliver above consensus sales growth over the next 3 years while Street expectations for the company's pipeline products are still low. Driven by a best-in-class product profile, we believe brigatinib is well positioned to exceed commercial expectations in ALK+ NSCLC, while AP32788, the company’s differentiated EGFR inhibitor, represents what we view as a free source of upside with Ph I data expected in mid-’17. ARIA’s new management team has positioned a leaner, more focused company for commercial execution in the US while also maintaining future strategic flexibility. Our conservative $20 per share DCF-based price target attributes $10 to Iclusig and $10 to brigatinib."
Shares of ARIAD Pharmaceuticals closed at $13.52 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Cuts Price Target on Parexel (PRXL) to $67 Following Weak 1Q
- Jefferies Raises Price Target on VMware (VMW) to $91 Following Better Than Expected 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!