Ariad Pharmaceuticals Lowered to “Market Perform” at BMO Capital Markets (ARIA)
Ariad Pharmaceuticals (NASDAQ:ARIA) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $21.00 price objective on the stock, down from their previous price objective of $37.00. BMO Capital Markets’ target price points to a potential upside of 12.36% from the stock’s previous close.
The analysts wrote, “We are downgrading our rating on ARIA to Market Perform and reducing our price target to $21. While AP26113 may have best-in-class efficacy in ALK+ NSCLC, pulmonary toxicity could be an issue in positioning against multiple emerging competitors. Updated data in EGFR+ T790M NSCLC and expert feedback suggest unfavorable positioning against more active competitors CO1686 and AZD9291. With AP26113 option value limited and the focus returning to the ICLUSIG launch, flattening TRx trends, timelines to 3Q14 for EPIC and questions on generalizability of single-center frontline data at ASH will likely leave ARIA shares range-bound.”
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 0.51% on Monday, hitting $18.595. 2,886,576 shares of the company’s stock traded hands. Ariad Pharmaceuticals has a one year low of $15.35 and a one year high of $25.40. The stock’s 50-day moving average is $19.4 and its 200-day moving average is $18.72. The company’s market cap is $3.442 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.03. The company had revenue of $13.90 million for the quarter, compared to the consensus estimate of $11.11 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 4302.5% on a year-over-year basis. Analysts expect that Ariad Pharmaceuticals will post $-1.63 EPS for the current fiscal year.
A number of other firms have also recently commented on ARIA. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $20.00 to $21.00 in a research note to investors on Wednesday, September 18th. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) in a research note to investors on Friday, September 6th. They now have a $28.00 price target on the stock. Finally, analysts at Chardan Capital initiated coverage on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) in a research note to investors on Wednesday, September 4th. They set a “buy” rating and a $28.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $26.70.
ARIAD Pharmaceuticals, Inc (NASDAQ:ARIA) is a global oncology company focused on the discovery, development and commercialization of medicines for the cancer patients.
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