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Shares of Ariad Pharmaceuticals Under Pressure, Down 1.6%

Published on Fri, 03/15/2013 - 10:37
By Peter Chu

One of today's notable stocks in decline is Ariad Pharmaceuticals (NASDAQ:ARIA), down 1.6% to $21.84. The Dow Jones Industrial Average is now trading 0.3% lower to 14,494 and the S&P is trading 0.2% lower to 1,559.

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.

In the past 52 weeks, shares of Ariad Pharmaceuticals have traded between a low of $14.10 and a high of $25.40 and are now at $21.84, which is 55% above that low price. The 200-day and 50-day moving averages have moved 0.52% higher and 0.98% higher over the past week, respectively.

There is potential upside of 29.1% for shares of Ariad Pharmaceuticals based on a current price of $21.84 and an average consensus analyst price target of $28.19. The stock should discover initial support at its 50-day moving average (MA) of $20.42 and subsequent support at its 200-day MA of $20.39.

By Peter Chu
pchu@fnno.com

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