JPMorgan Chase & Co. downgraded shares of Ariad Pharmaceuticals (NASDAQ:ARIA) from an overweight rating to a neutral rating in a research note released on Friday morning, TheFlyOnTheWall.com reports.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 6.46% on Friday, hitting $3.1299. The stock had a trading volume of 8,001,758 shares. Ariad Pharmaceuticals has a one year low of $2.62 and a one year high of $24.59. The stock’s 50-day moving average is $15.92 and its 200-day moving average is $17.66. The company’s market cap is $579.4 million.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.37) earnings per share for the quarter, beating the analysts’ 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 $-1.61 earnings per share for the current fiscal year.
ARIA has been the subject of a number of other recent research reports. Analysts at Argus downgraded shares of Ariad Pharmaceuticals from a hold rating to a sell rating in a research note to investors on Monday, October 14th. Separately, analysts at Credit Suisse cut their price target on shares of Ariad Pharmaceuticals from $20.00 to $6.00 in a research note to investors on Friday, October 11th. They now have a neutral rating on the stock. Finally, analysts at William Blair cut their price target on shares of Ariad Pharmaceuticals from $26.00 to $7.00 in a research note to investors on Thursday, October 10th. They now have an outperform rating on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $12.38.
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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