Ariad Pharmaceuticals Inc fka ARIA

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UBS cuts target from $29 to $26

UBS AG Sets Ariad Pharmaceutical Price Target at $26.00 (ARIA)

Ariad Pharmaceutical (NASDAQ: ARIA) had its price target lowered by UBS AG from $29.00 to $26.00 in a research note released on Thursday morning. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Analysts at Barclays Capital reiterated an overweight rating on shares of Ariad Pharmaceutical in a research note to investors on Monday, December 17th. They now have a $30.00 price target on the stock. Separately, analysts at Maxim Group cut their price target on shares of Ariad Pharmaceutical to $24.00 in a research note to investors on Monday, December 17th. Finally, analysts at Jefferies Group set a $23.00 price target on shares of Ariad Pharmaceutical in a research note to investors on Monday, December 17th. They now have a buy rating on the stock.

Shares of Ariad Pharmaceutical traded down 1.10% during mid-day trading on Thursday, hitting $19.87. Ariad Pharmaceutical has a one year low of $12.67 and a one year high of $25.40. The stock’s 50-day moving average is currently $21.. The company’s market cap is $3.311 billion.

Ariad Pharmaceutical last announced its earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.32). The company had revenue of $0.85 million for the quarter, compared to the consensus estimate of $0.96 million. During the same quarter in 2012, the company posted $0.10 earnings per share. Ariad Pharmaceutical’s revenue was down 96.6% compared to the same quarter last year. Analysts expect that Ariad Pharmaceutical will post $-1.32 EPS for the current fiscal year.

ARIAD Pharmaceuticals, Inc. (ARIAD) is biopharmaceutical company. As of December 31, 2011, the Company’s pipeline contains three product candidates: ponatinib, AP26113 and ridaforolimus.