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Buyers Accumulate Shares of Ariad Pharmaceuticals, Up 2.0%

Published on Fri, 04/19/2013 - 12:30
By Peter Chu

One of today's stocks on the move is Ariad Pharmaceuticals (NASDAQ:ARIA), up 2.0% to $18.48. The Dow is down 0.3% to 14,499 and the S&P is currently up 0.5% to 1,550.

ARIAD Pharmaceuticals, Inc. discovers and develops breakthrough medicines that regulate cell signaling with small molecules. The Company is primarily focused on product candidates for targeted indications. ARIAD is developing products to treat solid tumors, to block the spread of cancer, to treat certain forms of leukemia, and to treat cancer that has spread to bone and primary bone cancers.

Ariad Pharmaceuticals (NASDAQ:ARIA) has potential upside of 52.5% based on a current price of $18.48 and analysts' consensus price target of $28.19. The stock should run into initial resistance at its 50-day moving average (MA) of $19.75 and subsequent resistance at its 200-day MA of $20.58.

Over the past year, Ariad Pharmaceuticals has traded in a range of $14.10 to $25.40 and is now at $18.48, 31% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

By Peter Chu