Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) announced that negotiations with the Economic Committee on Health Care Products inFrance regarding pricing and reimbursement for Iclusig® (ponatinib) have now concluded. As a result, ARIAD will record net product revenue related to cumulative shipments in France of approximately$25 million in the second quarter of 2016.
Iclusig has been available to patients in France since late 2012 through a pre-licensed sales mechanism called an ATU (temporary authorization of use). This mechanism allows patient access to potential life-saving drugs prior to full pricing and reimbursement approval. (Original Source)
Shares of Ariad are up over 2% to $8.05 in pre-market trading. ARIA has a 1-year high of $10.07 and a 1-year low of $4.37. The stock’s 50-day moving average is $7.02 and its 200-day moving average is $6.23.
On the ratings front, Ariad has been the subject of a number of recent research reports. In a report issued on May 16, Cowen analyst Chris Shibutani reiterated a Buy rating on ARIA, with a price target of $10, which represents a potential upside of 27.4% from where the stock is currently trading. Separately, on May 11, Barclays’ Jonathan Eckard reiterated a Sell rating on the stock and has a price target of $8.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chris Shibutani and Jonathan Eckard have a total average return of 6.2% and -4.0% respectively. Shibutani has a success rate of 100.0% and is ranked #1560 out of 3842 analysts, while Eckard has a success rate of 28.6% and is ranked #3129.
The street is mostly Bullish on ARIA stock. Out of 5 analysts who cover the stock, 3 suggest a Buy rating , one suggests a Sell and one recommends to Hold the stock.
ARIAD Pharmaceuticals, Inc. operates as an oncology company which engages in the discovery, development, and commercialization of small-molecule drugs for the treatment of cancer. Its products include Iclusig and Caregivers. The company was founded by Harvey J. Berger in April 1991 and is headquartered in Cambridge, MA.