Ariad Pharmaceuticals Price Target Lowered to $2.50 at BMO Capital Markets (ARIA)
BMO Capital Markets decreased their price objective on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $8.00 to $2.50 in a research note issued on Friday, Analyst Ratings.Net reports. BMO Capital Markets’ target price would suggest a potential downside of 3.10% from the stock’s previous close.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 2.58 on Friday. Ariad Pharmaceuticals has a 52-week low of $2.15 and a 52-week high of $25.40. The stock has a 50-day moving average of $11. and a 200-day moving average of $16.75. The company’s market cap is $477.6 million.
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 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 $-1.62 earnings per share for the current fiscal year.
A number of other firms have also recently commented on ARIA. Analysts at Leerink Swann downgraded shares of Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note to investors on Friday. They now have a $2.50 price target on the stock, down previously from $7.00. Separately, analysts at Jefferies Group downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Friday. They now have a $2.50 price target on the stock, down previously from $7.00. Finally, analysts at Cowen and Company downgraded shares of Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $2.50 price target on the stock, down previously from $10.00. Two analysts have rated the stock with a sell rating, twenty have assigned a hold rating and two have given a buy rating to the stock. Ariad Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $10.41.
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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