Jefferies upgraded ARIAD Pharmaceuticals (NASDAQ: ARIA) from Hold to Buy with a price target of $14.00 (from $8.00) following Hematologists/Oncologists survey on Iclusig
Analyst Eun K. Yang, Ph.D. comments, "Our 50-physician survey data indicates little change in physicians' usage patterns & steady growth of Iclusig following market re-entry with label revision in January, pointing to likely upside to drastically reduced current expectations vs. prior estimates ($444M vs. prior $1.6B for 2019E). We now assume ~$590M in Iclusig sales in 2019, 33% higher vs. cons. At current EV of ~$1.2B we view risk/rewards as attractive."
The firm raised FY 2014 EPS from ($0.82) to ($0.63) and FY 2015 EPS from ($0.50) to ($0.07). |