Guggenheim Lowers Ariad Pharmaceuticals Price Target to $10.00 (ARIA)
Investment analysts at Guggenheim reduced their target price on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $28.00 to $10.00 in a note issued to investors on Thursday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 84.84% from the stock’s previous close.
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 has a 50-day moving average of $18.87 and a 200-day moving average of $18.36. The company’s market cap is $1.001 billion. Ariad Pharmaceuticals also was the target of some unusual options trading activity on Thursday. Stock investors bought 4,536 put options on the company. This represents an increase of 108% compared to the average volume of 2,180 put options.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly 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. Analysts expect that Ariad Pharmaceuticals will post $-1.64 EPS for the current fiscal year.
ARIA has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Chardan Capital downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $26.00 price target on the stock. One 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 stock. Ariad Pharmaceuticals currently has a consensus rating of “Hold” and an average price target 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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