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Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the stock, Analyst RN reports. Four research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $6.75.

A number of analysts have recently weighed in on ARIA shares. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Ariad Pharmaceuticals in a research note on Friday. They now have a $5.00 price target on the stock, down previously from $7.00. Separately, analysts at JMP Securities cut their price target on shares of Ariad Pharmaceuticals from $8.00 to $7.00 in a research note on Thursday, August 7th. They now have a “market outperform” rating on the stock. Finally, analysts at Chardan Capital reiterated a “buy” rating on shares of Ariad Pharmaceuticals in a research note on Thursday, August 7th.

Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 5.52 on Friday. Ariad Pharmaceuticals has a 52 week low of $2.15 and a 52 week high of $23.00. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $7.05. The company’s market cap is $1.031 billion. Ariad Pharmaceuticals also was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 50,995,853 shares, a drop of 4.0% from the July 15th total of 53,119,785 shares. Approximately 28.2% of the company’s shares are sold short. Based on an average trading volume of 11,578,543 shares, the days-to-cover ratio is presently 4.4 days.

Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Wednesday, August 6th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.29) by $0.01. The company had revenue of $12.10 million for the quarter, compared to the consensus estimate of $13.65 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis. On average, analysts predict that Ariad Pharmaceuticals will post $-1.15 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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