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Stock Investors Sell Off Shares of Ariad Pharmaceuticals, Down 3.4%

Published on Wed, 04/24/2013 - 10:21
By Robert Cotter

Ariad Pharmaceuticals (NASDAQ:ARIA) is one of today's biggest movers, down 3.4% to $17.97. The Dow Jones Industrial Average is now trading fractionally lower to 14,714 and the S&P is trading fractionally higher to 1,581.

Ariad Pharmaceuticals has overhead space with shares priced $17.97, or 36.2% below the average consensus analyst price target of $28.19. Ariad Pharmaceuticals shares should first meet resistance at the 50-day moving average (MA) of $19.67 and find additional resistance at the 200-day MA of $20.59.

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.

Over the past year, Ariad Pharmaceuticals has traded in a range of $14.78 to $25.40 and is now at $17.97, 22% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

By Robert Cotter
rcotter@fnno.com

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