We Continue To Think Ariad Is Fairly Valued, Says Cowen; Sees 28% Downside

In a research report sent to investors, Cowen analyst Phil Nadeau maintained a Market Perform rating on Ariad Pharmaceuticals (NASDAQ:ARIA) with a $4.50 price target, which represents a potential downside of 28% from where the stock is currently trading.

Nadeau wrote, “Ariad disclosed that Q4 Iclusig sales will be approx. $20.6MM, shy of our $25MME and consensus of $23MM. During 2015 ARIA hopes to partner brigatinib, file an IND for AP32788, and initiate 3 trials of Iclusig to expand its use into earlier lines of therapy. ARIA anticipates these initiatives will bring it to profitability in 2018 on $400MM in revenue. We continue to think ARIA is fairly valued.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Phil Nadeau has a total average return of 18.3% and a 65.0% success rate. Nadeau is ranked #252 out of 3426 analysts.

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