Ariad Pharmaceuticals Inc. (ARIA) Trading Up 3%
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) were up 3% on Thursday . The stock traded as high as $10.39 and last traded at $10.32, with a volume of 2,613,332 shares trading hands. The stock had previously closed at $10.02.
Several analysts recently weighed in on ARIA shares. Zacks Investment Research downgraded Ariad Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 4th. Cowen and Company upgraded Ariad Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $10.00 price objective for the company in a report on Thursday, May 5th. Barclays PLC lifted their price objective on Ariad Pharmaceuticals from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, May 11th. Jefferies Group restated a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. Finally, William Blair restated a “buy” rating and issued a $10.00 price objective 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 stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.19.
The firm has a 50 day moving average price of $8.99 and a 200 day moving average price of $7.42. The firm’s market cap is $1.97 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.70. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The business had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $60.64 million. The business’s revenue for the quarter was up 133.0% compared to the same quarter last year. Equities research analysts forecast that Ariad Pharmaceuticals Inc. will post ($0.08) EPS for the current fiscal year.
In other news, insider Timothy P. Clackson sold 19,436 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.47, for a total transaction of $203,494.92. Following the completion of the transaction, the insider now directly owns 228,772 shares in the company, valued at approximately $2,395,242.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $895,694.25. Following the transaction, the director now owns 128,088 shares of the company’s stock, valued at $1,056,726. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Ariad Pharmaceuticals stock. Rhumbline Advisers increased its position in shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 0.09% of Ariad Pharmaceuticals worth $1,089,000 as of its most recent filing with the SEC.
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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