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Research analysts at Citigroup Inc. raised their target price on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $5.50 to $7.00 in a report released on Wednesday, Stock Ratings Network reports. Citigroup Inc.’s price objective would indicate a potential downside of 19.26% from the company’s current price.

Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.47) by $0.07. The company had revenue of $8.28 million for the quarter, compared to the consensus estimate of $6.31 million.

Several other analysts have also recently commented on the stock. Analysts at Maxim Group upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday. They now have a $11.00 price target on the stock. Separately, analysts at Chardan Capital downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $9.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Jefferies Group raised their price target on shares of Ariad Pharmaceuticals from $7.00 to $8.00 in a research note on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.03.

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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