Ariad Pharmaceuticals Inc. (ARIA) Trading Up 3%
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)’s share price was up 3% during mid-day trading 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.
A number of brokerages have weighed in on ARIA. 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. Cowen and Company restated an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st. JMP Securities restated a “buy” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a report on Tuesday, July 5th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.19.
The company’s 50 day moving average price is $9.15 and its 200-day moving average price is $7.48. The stock’s market cap is $1.98 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The firm earned $65.30 million during the quarter, compared to the consensus estimate of $60.64 million. During the same quarter last year, the business posted ($0.28) EPS. Ariad Pharmaceuticals’s revenue was up 133.0% compared to the same quarter last year. On average, equities analysts forecast 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 Ariad Pharmaceuticals stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $7.05, for a total transaction of $42,384.60. Following the completion of the sale, the senior vice president now owns 29,262 shares in the company, valued at approximately $206,297.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy P. Clackson sold 23,999 shares of Ariad Pharmaceuticals stock in a transaction dated Wednesday, June 22nd. The shares were 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 of the company’s stock, valued at approximately $1,927,321.76. The disclosure for this sale can be found here.
A hedge fund recently raised its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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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