BMO Capital Markets cut their target price on shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from $21.00 to $8.00 in a research note issued on Wednesday, Stock Ratings Network.com reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 37.22% from the stock’s previous close.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 5.83 on Wednesday. Ariad Pharmaceuticals has a 52-week low of $4.00 and a 52-week high of $25.40. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $18.46. The company’s market cap is $1.079 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Wednesday, August 7th. The company reported ($0.37) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 4302.5% on a year-over-year basis. Analysts expect that Ariad Pharmaceuticals will post $-1.63 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ARIA. Analysts at Maxim Group downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $24.00 price target on the stock. Separately, analysts at Bank of America Corp. downgraded shares of Ariad Pharmaceuticals to a “neutral” rating in a research note to investors on Wednesday. Finally, analysts at Brean Capital downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.75.
ARIAD Pharmaceuticals, Inc (NASDAQ:ARIA) is a global oncology company focused on the discovery, development and commercialization of medicines for the cancer patients.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.