NEW YORK (TheStreet) -- Ariad Pharmaceuticals (ARIA) shares are declining -4.8% to $5.34 on Wednesday after reporting a second quarter net loss of 30 cents per share, 1 cent worse than analysts were expecting, on revenue of $12.1 million that was down 13.6% from the previous year and missed analysts $13.65 million estimates.
The company's chronic myeloid leukemia treatment, Iclusig, was responsible for $11.9 million in net product revenues during the quarter, with U.S. sales reaching $7.9 million and European sales reaching $4 million.
TheStreet Ratings team rates ARIAD PHARMACEUTICALS INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ARIAD PHARMACEUTICALS INC (ARIA) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally disappointing historical performance in the stock itself."
- You can view the full analysis from the report here: ARIA Ratings Report