H.C. Wainwright Keeps ‘Buy’ On Ariad Following $200 Million Offering
In a research note issued today, H.C. Wainwright analyst Dr. Reni Benjamin reiterated coverage with a “Buy” rating on Ariad Pharmaceuticals, Inc. (ARIA), and a price target of $14.00 a share.
“With $315 MM (pro forma) in cash and cash equivalents, the potential for growing Iclusig sales momentum to translate into $75 MM in potential revenues for 2014, and an increasing appetite among acquirers for marketed and pipeline products, we believe shares of Ariad remain undervalued and represent upside to the risk-tolerant, long-term investor”, Dr. Benjamin wrote.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Dr. Reni Benjamin, who covers ARIA, currently has a one-year average return of 5.1% and a 36% success rate. He is ranked #1565 out of 3104 analysts.