Credit Suisse Lowers Ariad Pharmaceuticals Price Target to $6.00 (ARIA)
Research analysts at Credit Suisse cut their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $20.00 to $6.00 in a report released on Friday, Analyst RN reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s target price indicates a potential upside of 40.85% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at William Blair cut their price target on shares of Ariad Pharmaceuticals from $26.00 to $7.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Ariad Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $13.16.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 21.26% on Friday, hitting $4.26. 43,828,428 shares of the company’s stock traded hands. 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 $18.49 and its 200-day moving average is $18.26. The company’s market cap is $788.6 million. Ariad Pharmaceuticals also was the recipient of some unusual options trading activity on Thursday. Traders bought 4,536 put options on the company. This represents an increase of approximately 108% compared to the typical daily 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. On average, analysts predict that Ariad Pharmaceuticals will post $-1.64 earnings per share 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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