Jefferies Raises Price Target on ARIAD Pharmaceuticals (ARIA) Following Meeting With Management
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Price: $25.17 +1.41%
Rating Summary:
10 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 12 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is reiterating its Buy rating on shares of ARIAD Pharmaceuticals (NASDAQ: ARIA) and is raising its price target from $11 to $16 following a meeting with management.
The company's fifth cohort has been closed, while the last sixth cohort is expected to be completed in Q3 with potential FDA approval in late-2012. Ph3 study in newly diagnosed CML is to begin in mid-2012, with potential sNDA filing in ~2H14.
An analyst at Jefferies comments, "What differentiates AP26113 from other ALK inhibitors in development is its activity against activated EGFR/T790M mutants. Also, compared to second-generation EGFR inhibitors in development, AP26113 has substantial selectivity over native EGFR, thus potentially providing better tolerability. ARIA estimates ~28K NSCLC patients in the U.S. who could be candidates for AP26113. At 25% penetration and $80K/pt/yr, this could translate into ~$560M potential sales in the U.S. alone."
The firms current 2011, 2012, and 2013 EPS estimates are ($0.61), ($0.36), and ($0.38). Revenue for the three years is forecasted at $25.5 million, $43.1 million, and $57.3 million.
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 $12.18 yesterday.
The company's fifth cohort has been closed, while the last sixth cohort is expected to be completed in Q3 with potential FDA approval in late-2012. Ph3 study in newly diagnosed CML is to begin in mid-2012, with potential sNDA filing in ~2H14.
An analyst at Jefferies comments, "What differentiates AP26113 from other ALK inhibitors in development is its activity against activated EGFR/T790M mutants. Also, compared to second-generation EGFR inhibitors in development, AP26113 has substantial selectivity over native EGFR, thus potentially providing better tolerability. ARIA estimates ~28K NSCLC patients in the U.S. who could be candidates for AP26113. At 25% penetration and $80K/pt/yr, this could translate into ~$560M potential sales in the U.S. alone."
The firms current 2011, 2012, and 2013 EPS estimates are ($0.61), ($0.36), and ($0.38). Revenue for the three years is forecasted at $25.5 million, $43.1 million, and $57.3 million.
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 $12.18 yesterday.
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