Ariad Pharmaceuticals Price Target Cut to $9.00 by Analysts at RBC Capital (ARIA)
Research analysts at RBC Capital dropped their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $28.00 to $9.00 in a report released on Thursday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 66.36% from the stock’s previous close.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 7.20% on Thursday, hitting $5.41. The stock had a trading volume of 26,899,312 shares. Ariad Pharmaceuticals has a one year low of $4.00 and a one year 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 acquired 4,536 put options on the company. This represents an increase of approximately 108% compared to the typical volume of 2,180 put options.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its earnings data 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 $-1.64 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ARIA. 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. Separately, 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. Finally, analysts at Summer Street downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Ariad Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $13.63.
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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