Price Target Update on ARIAD Pharmaceuticals (NASDAQ:ARIA)

ARIAD Pharmaceuticals (NASDAQ:ARIA) stock is expected to deviate a maximum of $2.07 from the average target price of $10.4 for the short term period. 5 Street Experts have initiated coverage on the stock with the most promising target being $13 and the most muted being $8.

Other Equity analysts have also commented on the company shares. Equity analysts at the Brokerage firm Cowen & Company upgrades its rating on ARIAD Pharmaceuticals (NASDAQ:ARIA). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on May 5, 2016.

ARIAD Pharmaceuticals (NASDAQ:ARIA): stock turned positive on Thursday. Though the stock opened at $7.35, the bulls momentum made the stock top out at $7.54 level for the day. The stock recorded a low of $7.27 and closed the trading day at $7.54, in the green by 3.71%. The total traded volume for the day was 3,379,454. The stock had closed at $7.27 in the previous days trading.

The company shares have dropped -16.34% from its 1 Year high price. On Aug 28, 2015, the shares registered one year high at $10.07 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $7.93 and the 200 Day Moving Average price is recorded at $6.50. On the companys insider trading activities, Lavidas Athanese, director of Ariad Pharmaceuticals Inc, unloaded 76,250 shares at an average price of $8.2 on June 13, 2016. The total amount of the transaction was worth $625,250, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

ARIAD Pharmaceuticals, Inc. is a global oncology company. The Company is engaged in the discovery, development and commercialization of small molecule drug indicated for the treatment of cancer. The Companys product pipeline includes Iclusig (ponatinib), brigatinib (AP26113), AP32788 and ridaforolimus. Iclusig is a tyrosine kinase inhibitor (TKI), which is approved in the United States, Europe and Australia for the treatment of adult patients with chronic myeloid leukemia (CML) and Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL). Brigatinib is an investigational inhibitor of anaplastic lymphoma kinase (ALK). AP32788, is an orally active TKI. Ridaforolimus is an investigational inhibitor of the mammalian target of rapamycin (mTOR).

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