Ariad Pharmaceuticals Inc. (ARIA) Hits New 52-Week High at $10.85
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $10.85 and last traded at $10.76, with a volume of 2,107,716 shares changing hands. The stock had previously closed at $10.60.
ARIA has been the topic of a number of research analyst reports. Zacks Investment Research raised Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, July 5th. JMP Securities reaffirmed a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Cowen and Company reaffirmed a “buy” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Barclays PLC raised 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, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $9.19.
The stock’s market capitalization is $2.08 billion. The stock has a 50-day moving average price of $8.92 and a 200-day moving average price of $7.40.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% on a year-over-year basis. During the same period last year, the company posted ($0.28) earnings per share. Analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.08) EPS for the current year.
In other Ariad Pharmaceuticals news, Director Massimo Radaelli sold 108,569 shares of the stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $8.25, for a total transaction of $895,694.25. Following the completion of the transaction, the director now directly owns 128,088 shares of the company’s stock, valued at $1,056,726. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Athanese Lavidas sold 76,250 shares of the stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $8.21, for a total value of $626,012.50. Following the transaction, the director now directly owns 141,631 shares of the company’s stock, valued at $1,162,790.51. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ariad Pharmaceuticals stock. Rhumbline Advisers increased its stake in Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,193 shares of the pharmaceutical company’s stock after buying an additional 12,560 shares during the period. Rhumbline Advisers owned approximately 0.09% of Ariad Pharmaceuticals worth $1,089,000 as of its most recent SEC filing.
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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