Company

Bank

Analyst

Coverage

Opinion

Wk chg

10/11 cls

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)

Barclays Capital

Ying Huang

Downgrade

Underweight (from overweight)

-77%

$4.26

Brean Capital

Jonathan Aschoff

Downgrade

Hold (from buy)

Maxim Group

Echo He

Downgrade

Hold (from buy)

Stifel

Joel Sendek

Downgrade

Hold (from buy)

Summer Street

Carol Werther

Downgrade

Neutral (from buy)

Huang also lowered his target to $4 from $25 after FDA placed a partial clinical hold halting enrollment in all trials of leukemia drug Iclusig ponatinib, including the Phase III EPIC trial in newly diagnosed chronic myelogenous leukemia (CML) patients. The hold came after two-year follow-up data from the Phase II PACE trial showed an increase in treatment-emergent serious arterial thrombotic events with longer use of Iclusig (see B23). Huang believes FDA will require a larger and longer follow-up trial to lift the hold and that the probability of approval in front-line therapy is now low. Iclusig is approved in the U.S. to treat CML and Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL) that is resistant or intolerant to prior treatment with TKIs.