Ariad Pharmaceuticals Price Target Cut to $10.00 by Analysts at Cowen and Company (ARIA)
Research analysts at Cowen and Company dropped their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $27.50 to $10.00 in a report released on Wednesday, Analyst Ratings Net reports. Cowen and Company’s price objective would indicate a potential upside of 71.53% from the stock’s previous close.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 65.99% during mid-day trading on Wednesday, hitting $5.83. The stock had a trading volume of 114,909,144 shares. Ariad Pharmaceuticals has a 1-year low of $4.00 and a 1-year high of $25.40. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $18.46. The company’s market cap is $1.079 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.37) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.31) earnings per share. Ariad Pharmaceuticals’s revenue was up 4302.5% compared to the same quarter last year. On average, analysts predict that Ariad Pharmaceuticals will post $-1.63 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ARIA. Analysts at BMO Capital Markets cut their price target on shares of Ariad Pharmaceuticals from $21.00 to $8.00 in a research note to investors on Wednesday. They now have a “market perform” rating on the stock. Separately, analysts at Maxim Group downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $24.00 price target on the stock. Finally, analysts at Bank of America Corp. downgraded shares of Ariad Pharmaceuticals to a “neutral” rating in a research note to investors on Wednesday. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.75.
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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