Ariad Pharmaceuticals Stock Rating Lowered by Barclays Capital (ARIA)
Ariad Pharmaceuticals (NASDAQ:ARIA) was downgraded by stock analysts at Barclays Capital from an “overweight” rating to an “underweight” rating in a report issued on Thursday, AnalystRatings.NET reports. They currently have a $4.00 target price on the stock, down from their previous target price of $25.00. Barclays Capital’s price objective would indicate a potential downside of 31.39% from the stock’s previous close.
The analysts wrote, “We are downgrading ARIA to UW from OW and reducing our price target to $4 from $25, on higher risk of Iclusig not receiving FDA approval as a front-line therapy for chronic myeloid leukemia (CML) and reduced peak sales in second-line treatment given safety concerns around cardiovascular, cerebrovascular, and peripheral vascular thrombosis. We see risk/reward skewed to the downside at current levels.”
ARIA has been the subject of a number of other recent research reports. Analysts at JMP Securities downgraded shares of Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at Jefferies Group cut their price target on shares of Ariad Pharmaceuticals from $23.00 to $7.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company cut their price target on shares of Ariad Pharmaceuticals from $27.50 to $10.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. Ariad Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $16.68.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 8.23% on Thursday, hitting $5.35. The stock had a trading volume of 21,931,088 shares. Ariad Pharmaceuticals has a 52-week low of $4.00 and a 52-week 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 $990.3 million.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its 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 $-1.63 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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