Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) dropped 1.9% during trading on Monday . The company traded as low as $7.24 and last traded at $7.37, with a volume of 3,063,112 shares trading hands. The stock had previously closed at $7.51.

ARIA has been the topic of a number of analyst reports. JMP Securities reiterated an “outperform” rating and set a $9.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, April 19th. Jefferies Group reiterated a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. Cowen and Company reiterated an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st. Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. Finally, Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Ariad Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $9.06.

The firm has a 50-day moving average of $7.89 and a 200 day moving average of $6.61. The stock’s market cap is $1.37 billion.

Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Tuesday, May 10th. The pharmaceutical company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The firm had revenue of $35.60 million for the quarter, compared to the consensus estimate of $43.06 million. During the same period in the previous year, the firm earned ($0.28) EPS. Ariad Pharmaceuticals’s revenue for the quarter was up 48.3% on a year-over-year basis. On average, equities research analysts predict that Ariad Pharmaceuticals Inc. will post ($0.60) earnings per share for the current fiscal year.

In related news, insider Timothy P. Clackson sold 21,409 shares of the business’s stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $7.37, for a total transaction of $157,784.33. Following the sale, the insider now owns 294,803 shares of the company’s stock, valued at $2,172,698.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Hugh M. Cole sold 6,012 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $7.05, for a total value of $42,384.60. Following the sale, the senior vice president now directly owns 29,262 shares in the company, valued at approximately $206,297.10. The disclosure for this sale can be found here.

Other large investors have recently made changes to their positions in the company. Oxford Asset Management boosted its stake in shares of Ariad Pharmaceuticals by 60.9% in the fourth quarter. Oxford Asset Management now owns 476,178 shares of the pharmaceutical company’s stock valued at $3,012,000 after buying an additional 180,186 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in Ariad Pharmaceuticals by 13.1% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,418,866 shares of the pharmaceutical company’s stock valued at $8,868,000 after buying an additional 164,580 shares during the period. New York State Common Retirement Fund raised its position in Ariad Pharmaceuticals by 18.0% in the fourth quarter. New York State Common Retirement Fund now owns 193,180 shares of the pharmaceutical company’s stock valued at $1,207,000 after buying an additional 29,480 shares during the period. ProShare Advisors LLC raised its position in Ariad Pharmaceuticals by 10.3% in the fourth quarter. ProShare Advisors LLC now owns 176,600 shares of the pharmaceutical company’s stock valued at $1,104,000 after buying an additional 16,552 shares during the period. Finally, Rhumbline Advisers raised its position in Ariad Pharmaceuticals by 7.8% in the fourth quarter. Rhumbline Advisers now owns 174,193 shares of the pharmaceutical company’s stock valued at $1,089,000 after buying an additional 12,560 shares during the period.

ARIAD Pharmaceuticals, Inc (ARIAD) is an oncology company. The Company is focused on transforming the lives of cancer patients with medicines. The Company’s product pipeline includes Iclusig (ponatinib), brigatinib, AP32788 and ridaforolimus. The Company’s Iclusig is a tyrosine kinase inhibitor (TKI) that is approved in the United States, the European Union, Australia, Switzerland, Israel and Canada for the treatment of adult patients with chronic myeloid leukemia (CML), and Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL).

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