Ariad Pharmaceuticals Inc. (ARIA) Hits New 12-Month High at $10.85
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) reached a new 52-week high during trading on Wednesday . The company traded as high as $10.85 and last traded at $10.76, with a volume of 2,107,716 shares. The stock had previously closed at $10.60.
ARIA has been the subject of several recent research reports. Cowen and Company raised 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. Zacks Investment Research lowered Ariad Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 4th. Barclays PLC lifted their price objective on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Jefferies Group reissued 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 reissued a “buy” rating and issued a $10.00 price objective 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 issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.19.
The firm’s 50-day moving average price is $9.07 and its 200-day moving average price is $7.44. The company’s market capitalization is $1.97 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $60.64 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s revenue for the quarter was up 133.0% compared to the same quarter last year. On average, equities research analysts expect that Ariad Pharmaceuticals Inc. will post ($0.08) earnings per share for the current fiscal year.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 23,999 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $7.28, for a total transaction of $174,712.72. Following the sale, the insider now owns 264,742 shares in the company, valued at approximately $1,927,321.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $626,012.50. Following the sale, the director now owns 141,631 shares in the company, valued at approximately $1,162,790.51. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Ariad Pharmaceuticals stock. Rhumbline Advisers boosted its stake 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. The fund owned 174,193 shares of the pharmaceutical company’s stock after buying an additional 12,560 shares during the period. Rhumbline Advisers owned about 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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