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

ARIA has been the subject of several analyst reports. JMP Securities reissued a “buy” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 6th. Cowen and Company reissued a “buy” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Monday, June 6th. William Blair reissued a “buy” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Tuesday, May 24th. Jefferies Group reaffirmed a “buy” rating and set a $13.00 price objective on shares of Ariad Pharmaceuticals in a research note on Tuesday, May 24th. Finally, Zacks Investment Research raised shares of Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $9.06.

The stock’s market capitalization is $1.55 billion. The stock has a 50 day moving average price of $7.67 and a 200 day moving average price of $6.67.

Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Tuesday, May 10th. The pharmaceutical company reported ($0.23) earnings per share for the quarter, beating 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 prior year, the business earned ($0.28) EPS. The company’s quarterly revenue was up 48.3% compared to the same quarter last year. On average, equities analysts expect that Ariad Pharmaceuticals Inc. will post ($0.73) earnings per share for the current fiscal year.

In related news, SVP Hugh M. Cole sold 6,012 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 29,262 shares in the company, valued at approximately $206,297.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paris Panayiotopoulos purchased 26,990 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $7.41 per share, with a total value of $199,995.90. Following the transaction, the chief executive officer now directly owns 61,099 shares in the company, valued at $452,743.59. The disclosure for this purchase can be found here.

Several institutional investors recently added to or reduced their stakes in ARIA. 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 worth $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 worth $1,104,000 after buying an additional 16,552 shares during the period. 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 worth $1,089,000 after buying an additional 12,560 shares during the period. OppenheimerFunds Inc. raised its position in 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. Finally, California State Teachers Retirement System raised its position 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 worth $1,939,000 after buying an additional 5,000 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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