Ariad Pharmaceuticals Inc. (ARIA) Sets New 1-Year High at $10.18
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $10.18 and last traded at $9.99, with a volume of 2,598,901 shares traded. The stock had previously closed at $9.93.
A number of research firms have recently commented on ARIA. Cowen and Company reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Sunday. Barclays PLC lifted their price target on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, July 29th. Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Friday, July 29th. JMP Securities reissued a “buy” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. Finally, William Blair reissued a “buy” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.19.
The company’s market capitalization is $1.90 billion. The firm has a 50-day moving average price of $7.81 and a 200 day moving average price of $6.89.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. The company earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% on a year-over-year basis. On average, analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.08) EPS for the current year.
In related news, SVP Hugh M. Cole sold 6,012 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $7.05, for a total value of $42,384.60. Following the transaction, the senior vice president now directly owns 29,262 shares in the company, valued at $206,297.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 acquired at an average price of $7.41 per share, for a total transaction of $199,995.90. Following the completion of the purchase, the chief executive officer now directly owns 61,099 shares of the company’s stock, valued at approximately $452,743.59. The disclosure for this purchase can be found here.
Several institutional investors have added to or reduced their stakes in ARIA. OppenheimerFunds Inc. increased 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 valued at $11,640,000 after buying an additional 9,480 shares during the period. California State Teachers Retirement System increased 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 valued at $1,939,000 after buying an additional 5,000 shares during the period. New York State Common Retirement Fund increased 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. Finally, Rhumbline Advisers increased 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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