Ariad Pharmaceuticals Price Target Cut to $7.00 (ARIA)
William Blair cut their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $26.00 to $7.00 in a research note issued on Thursday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. William Blair’s price objective indicates a potential upside of 29.39% from the company’s current price.
A number of other analysts have also recently weighed in on ARIA. Analysts at RBC Capital cut their price target on shares of Ariad Pharmaceuticals from $28.00 to $9.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Guggenheim cut their price target on shares of Ariad Pharmaceuticals from $28.00 to $10.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Leerink Swann cut their price target on shares of Ariad Pharmaceuticals from $28.00 to $9.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $13.63.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 7.20% on Thursday, hitting $5.41. 26,899,312 shares of the company’s stock traded hands. 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 $18.87 and its 200-day moving average is $18.36. The company’s market cap is $1.001 billion. Ariad Pharmaceuticals also saw some unusual options trading on Thursday. Stock investors bought 4,536 put options on the stock. This represents an increase of 108% compared to the typical volume of 2,180 put options.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results 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 $-1.64 EPS for the current fiscal year.
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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