SunTrust Banks Comments on Ariad Pharmaceuticals Inc.’s Q3 2016 Earnings (ARIA)
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Analysts at SunTrust Banks issued their Q3 2016 earnings per share estimates for shares of Ariad Pharmaceuticals in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst Y. Suneja expects that the firm will earn ($0.17) per share for the quarter. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ariad Pharmaceuticals’ Q4 2016 earnings at ($0.20) EPS, FY2016 earnings at ($0.09) EPS, Q1 2017 earnings at ($0.20) EPS, Q2 2017 earnings at ($0.20) EPS, Q3 2017 earnings at ($0.21) EPS, Q4 2017 earnings at ($0.91) EPS, FY2017 earnings at $0.48 EPS, FY2018 earnings at $0.58 EPS, FY2019 earnings at $1.15 EPS and FY2020 earnings at $2.02 EPS.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings data 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 analyst estimates of $60.64 million. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The company’s quarterly revenue was up 133.0% on a year-over-year basis.
Several other brokerages also recently weighed in on ARIA. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, September 28th. Leerink Swann began coverage on shares of Ariad Pharmaceuticals in a research note on Monday, September 26th. They set an “outperform” rating for the company. Cowen and Company reiterated an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Jefferies Group reiterated a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a research note on Friday, July 29th. Finally, Barclays PLC increased their target price on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $10.13.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 3.17% during midday trading on Thursday, reaching $13.43. The company had a trading volume of 6,393,620 shares. Ariad Pharmaceuticals has a 1-year low of $4.37 and a 1-year high of $14.26. The stock’s market capitalization is $2.59 billion. The firm’s 50 day moving average is $11.64 and its 200 day moving average is $8.74.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 18,286 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $8.11, for a total value of $148,299.46. Following the completion of the transaction, the insider now directly owns 248,208 shares of the company’s stock, valued at $2,012,966.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Daniel M. Bollag sold 47,384 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $13.46, for a total transaction of $637,788.64. Following the completion of the transaction, the vice president now directly owns 129,404 shares of the company’s stock, valued at $1,741,777.84. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Ariad Pharmaceuticals during the fourth quarter worth about $10,412,000. Rehmann Capital Advisory Group bought a new position in shares of Ariad Pharmaceuticals during the first quarter worth about $128,000. BlackRock Group LTD boosted its position in shares of Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock worth $1,097,000 after buying an additional 19,123 shares during the period. Spark Investment Management LLC boosted its position in shares of Ariad Pharmaceuticals by 40.6% in the first quarter. Spark Investment Management LLC now owns 126,700 shares of the pharmaceutical company’s stock worth $809,000 after buying an additional 36,600 shares during the period. Finally, Consonance Capital Management LP bought a new position in shares of Ariad Pharmaceuticals during the first quarter worth about $35,629,000. 71.99% of the stock is owned by institutional investors.
Ariad Pharmaceuticals Company Profile
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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