Ariad Pharmaceuticals Inc. (ARIA) Reaches New 1-Year High at $10.36
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.36 and last traded at $10.18, with a volume of 3,429,297 shares trading hands. The stock had previously closed at $9.97.
A number of research firms have issued reports on ARIA. Cowen and Company restated an “outperform” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Barclays PLC upped 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 restated a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Friday, July 29th. JMP Securities restated a “buy” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. Finally, William Blair restated a “buy” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Ariad Pharmaceuticals has an average rating of “Buy” and a consensus price target of $9.19.
The firm’s market capitalization is $1.94 billion. The stock has a 50-day moving average of $8.22 and a 200-day moving average of $7.06.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.70. The business earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. The firm’s quarterly revenue was up 133.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. On average, equities research analysts expect that Ariad Pharmaceuticals Inc. will post ($0.08) EPS for the current fiscal year.
In other news, Director Athanese Lavidas sold 76,250 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $8.21, for a total transaction of $626,012.50. Following the transaction, the director now directly owns 141,631 shares in the company, valued at approximately $1,162,790.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy P. Clackson sold 17,762 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $8.08, for a total transaction of $143,516.96. Following the transaction, the insider now owns 288,741 shares in the company, valued at $2,333,027.28. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Ariad Pharmaceuticals stock. New York State Common Retirement Fund boosted its stake in Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,180 shares of the pharmaceutical company’s stock after buying an additional 29,480 shares during the period. New York State Common Retirement Fund owned about 0.10% of Ariad Pharmaceuticals worth $1,207,000 at the end of the most recent 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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