Barclays Reiterates an 'Overweight' on ARIAD Pharmaceuticals (ARIA); Continued Execution on Ponatinib; Preclinical Solid Tumor Data at AACR

Barclays reiterates an 'Overweight' on ARIAD Pharmaceuticals (NASDAQ: ARIA), PT $9.

Barclays analyst says, "We are reiterating our rating on shares of ARIA following a positive update regarding ARIA's collaboration with MolecularMD (MMD) for the T315I companion diagnostic test and this morning's announcement of preclionical data for ponatinib at AACR. The collaboration with MMD provides further evidence of ARIA's continued strong execution on clinical development of Ponatinib and in the near term we continue to see additional upside on presentation of Ponatinib preclinical data at AACR next week and Ridaforolimus Phase 3 data at ASCO."

For more ratings news on ARIAD Pharmaceuticals click here and for the rating history of ARIAD Pharmaceuticals click here.

Shares of ARIAD Pharmaceuticals closed at $7.49 yesterday.

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