Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) saw unusually-strong trading volume on Wednesday . Approximately 8,754,721 shares traded hands during trading, an increase of 112% from the previous session’s volume of 4,134,851 shares.The stock last traded at $7.62 and had previously closed at $7.05.

A number of analysts have recently commented on ARIA shares. Cowen and Company reissued a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Sunday, April 17th. JMP Securities reissued an “outperform” rating and issued a $9.00 price target on shares of Ariad Pharmaceuticals in a research report on Tuesday, April 19th. Zacks Investment Research cut Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. Barclays PLC boosted their price target on Ariad Pharmaceuticals from $6.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 11th. Finally, Jefferies Group reissued a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $9.06.

The firm’s market cap is $1.46 billion. The stock’s 50-day moving average is $7.72 and its 200-day moving average is $6.64.

Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its earnings results on Tuesday, May 10th. The pharmaceutical company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. The company had revenue of $35.60 million for the quarter, compared to analysts’ expectations of $43.06 million. The business’s revenue was up 48.3% compared to the same quarter last year. During the same period last year, the business posted ($0.28) earnings per share. Equities analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.73) earnings per share for the current fiscal year.

In other news, SVP Hugh M. Cole sold 6,012 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $7.05, for a total transaction of $42,384.60. Following the transaction, the senior vice president now directly owns 29,262 shares of the company’s stock, valued at $206,297.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy P. Clackson sold 23,999 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $7.28, for a total transaction of $174,712.72. Following the transaction, the insider now directly owns 264,742 shares in the company, valued at $1,927,321.76. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of ARIA. OppenheimerFunds Inc. raised its position in shares of Ariad Pharmaceuticals by 0.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,862,400 shares of the pharmaceutical company’s stock worth $11,640,000 after buying an additional 9,480 shares during the period. California State Teachers Retirement System raised its position in shares of Ariad Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 310,276 shares of the pharmaceutical company’s stock worth $1,939,000 after buying an additional 5,000 shares during the period. New York State Common Retirement Fund raised its position in shares of 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 last quarter. ProShare Advisors LLC raised its position in shares of 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 last quarter. Finally, Rhumbline Advisers raised its position in shares of 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 last quarter.

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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