NEW YORK (TheStreet) -- Shares of Ariad Pharmaceuticals (ARIA) were plummeting 14.46% to $11.18 on heavy trading volume late Friday afternoon after Senator Bernie Sanders (I-VT) spoke out against the price of the company's leukemia drug.
Sanders tweeted that "drug corporations' greed is unbelievable," and referenced the $199,000 per year cost of Ariad's Iclusig chronic myeloid leukemia treatment.
Last month, Hillary Clinton unveiled a plan to establish a consumer oversight team to monitor drug prices and penalize companies that unfairly raise prices.
About 15.93 million shares of Ariad have been traded so far today, well above the company's average trading volume of roughly 6.31 million shares per day.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Ariad's weaknesses include its weak operating cash flow.
You can view the full analysis from the report here: ARIA
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.