Ariad Pharmaceuticals PT Lowered to $8.00 (ARIA)
Equities researchers at BMO Capital Markets lowered their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $21.00 to $8.00 in a research report issued on Wednesday, Analyst Ratings.Net reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 37.22% 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 52-week low of $4.00 and a 52-week high of $25.40. The stock’s 50-day moving average is $19.16 and its 200-day moving average is $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) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue 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 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. Separately, analysts at Bank of America Corp. downgraded shares of Ariad Pharmaceuticals to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at Brean Capital downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.