Short Interest in Ariad Pharmaceuticals Decreases By 4.0% (ARIA)
Ariad Pharmaceuticals (NASDAQ:ARIA) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 50,995,853 shares, a decrease of 4.0% from the July 15th total of 53,119,785 shares, AmericanBankingNews.com reports. Approximately 28.2% of the shares of the stock are short sold. Based on an average daily volume of 11,578,543 shares, the days-to-cover ratio is presently 4.4 days.
A number of research firms have recently commented on ARIA. 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. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.75.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 5.52 on Tuesday. 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 (NASDAQ:ARIA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.30) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.37) earnings per share. Ariad Pharmaceuticals’s revenue was down 13.6% compared to the same quarter last year. Analysts expect that Ariad Pharmaceuticals will post $-1.15 EPS 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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