Ariad Pharmaceuticals Stock Rating Lowered by Maxim Group (ARIA)
Ariad Pharmaceuticals (NASDAQ:ARIA) was downgraded by equities research analysts at Maxim Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $24.00 price objective on the stock. Maxim Group’s price objective suggests a potential upside of 40.02% from the stock’s previous close.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 65.99% during mid-day trading on Wednesday, hitting $5.83. 114,781,352 shares of the company’s stock traded hands. Ariad Pharmaceuticals has a 52-week low of $15.35 and a 52-week high of $25.40. The stock has a 50-day moving average of $19.47 and a 200-day moving average of $18.5. The company’s market cap is $1.079 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its earnings data 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. On average, analysts predict that Ariad Pharmaceuticals will post $-1.63 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Ariad Pharmaceuticals to a “neutral” rating in a research note to investors on Wednesday. Separately, 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. Finally, analysts at Stifel Nicolaus downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.21.
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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