Company Update (NASDAQ:ARIA): Ariad Pharmaceuticals, Inc. Announces Pricing and Reimbursement for Iclusig in France


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.

 

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts