Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) shares traded up 4.1% on Thursday . The company traded as high as $8.03 and last traded at $7.94, with a volume of 4,297,672 shares. The stock had previously closed at $7.63.

A number of research analysts recently weighed in on the company. Cowen and Company reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a research note on Sunday, April 17th. Zacks Investment Research downgraded Ariad Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 4th. JMP Securities reissued an “outperform” rating and issued a $9.00 price objective on shares of Ariad Pharmaceuticals in a research note on Tuesday, April 19th. Jefferies Group reissued a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a research note on Tuesday, May 24th. Finally, Barclays PLC reissued a “sell” rating on shares of Ariad Pharmaceuticals in a research note on Thursday, May 12th. One equities 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. The stock presently has an average rating of “Buy” and an average price target of $9.06.

The firm’s market capitalization is $1.53 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 posted its earnings results on Tuesday, May 10th. The pharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The business earned $35.60 million during the quarter, compared to the consensus estimate of $43.06 million. The firm’s revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, equities research analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.73) EPS for the current year.

In other news, CEO Paris Panayiotopoulos acquired 26,990 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were acquired at an average cost of $7.41 per share, with a total value of $199,995.90. Following the transaction, the chief executive officer now owns 61,099 shares in the company, valued at approximately $452,743.59. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Massimo Radaelli sold 108,569 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $8.25, for a total value of $895,694.25. Following the sale, the director now directly owns 128,088 shares in the company, valued at $1,056,726. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake 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 last quarter. ProShare Advisors LLC boosted its stake 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 last quarter. New York State Common Retirement Fund boosted its stake 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 last quarter. California State Teachers Retirement System boosted its stake in 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 valued at $1,939,000 after buying an additional 5,000 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Ariad Pharmaceuticals by 0.5% in the fourth quarter. OppenheimerFunds Inc. now owns 1,862,400 shares of the pharmaceutical company’s stock valued at $11,640,000 after buying an additional 9,480 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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