Analyst Upgrades: Ariad Pharma, Cytokinetics, GrubHub

Analysts are upwardly revising their ratings today on oncology specialist Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA), biopharmaceutical firm Cytokinetics, Inc. (NASDAQ:CYTK), and mobile carry-out platform GrubHub Inc (NYSE:GRUB). Here's a quick look at today's bullish brokerage notes on ARIA, CYTK, and GRUB.

• Late Tuesday, JMP Securities raised its price target on ARIA to $8 from $7, and reiterated its "outperform" rating. The new target implies expected upside of 17.3% from yesterday's close at $6.82 -- which, for the record, means Ariad Pharmaceuticals, Inc. finished Tuesday completely flat for 2014. Despite the stock's lack of progress this calendar year -- and a recent downgrade from Credit Suisse -- most analysts remain in ARIA's corner. The stock sports 60% "strong buy" ratings from brokerage firms, with not a single "sell" to be found.


• CYTK has jumped more than 7% in pre-market trading, aided by a price-target hike to $18 from $13 at Roth Capital. The brokerage firm apparently expects Cytokinetics, Inc. shares to gain nearly 161% from Tuesday's close at $6.90, though the stock has added just 6.2% over the last 12 months. In fact, CYTK only made its way into positive year-to-date territory on Monday, as traders cheered reports of an investment from Japanese firm Astellas Pharma. During the short term, a rush to cover by some of the weaker bearish hands could help CYTK extend its recent rally. The stock's short-interest ratio stands at 5.3, indicating more than a week's worth of pent-up buying pressure, at CTYK's average daily trading volume.


• After yesterday's close, Barrington Research upgraded GRUB to "outperform" from "market perform," with a $43 price target -- roughly 20% north of the stock's Tuesday finish at $35.87. GrubHub Inc is up more than 3% ahead of the bell, which should help the shares extend a slim lead over resistance at their 80-day moving average (currently located at $35.72). While GRUB has floundered in recent months, and is now trading below its April 4 debut price of $40, the stock still has plenty of support from the brokerage community. Eight out of 10 analysts call GRUB a "buy" or better, and the average 12-month price target of $45.44 is less than 1 point south of the stock's Aug. 13 all-time high at $45.80.