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Stock Investors Sell Off Shares of Ariad Pharmaceuticals, Down 1.4%

Published on Wed, 01/30/2013 - 13:25
By Adrienne Chilton

One of today's stocks on the move is Ariad Pharmaceuticals (NASDAQ:ARIA), down 1.4% to $20.05. The S&P is currently trading fractionally lower to 1,507 and the Dow Jones Industrial Average is trading fractionally higher to 13,956.

Ariad Pharmaceuticals has overhead space with shares priced $20.05, or 30.1% below the average consensus analyst price target of $28.69. Ariad Pharmaceuticals shares should encounter resistance at the 50-day moving average (MA) of $20.76 and support at its 200-day MA of $19.67.

In the past 52 weeks, Ariad Pharmaceuticals share prices have been bracketed by a low of $13.92 and a high of $25.40 and are now at $20.05, 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.2%.

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.

By Adrienne Chilton
achilton@fnno.com