Ariad Pharmaceuticals Inc. (ARIA) Earns “Outperform” Rating from Cowen and Company
Cowen and Company reiterated their outperform rating on shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) in a report issued on Saturday morning. Cowen and Company currently has a $16.00 price objective on the pharmaceutical company’s stock, up from their previous price objective of $10.00.
A number of other equities analysts also recently commented on the stock. Leerink Swann reaffirmed an outperform rating and issued a $20.00 price objective on shares of Ariad Pharmaceuticals in a report on Wednesday. SunTrust Banks Inc. began coverage on shares of Ariad Pharmaceuticals in a report on Tuesday, October 4th. They issued a buy rating for the company. Zacks Investment Research raised shares of Ariad Pharmaceuticals from a hold rating to a strong-buy rating and set a $16.00 price objective for the company in a report on Wednesday, September 28th. Jefferies Group reaffirmed a buy rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a report on Friday, July 29th. Finally, Barclays PLC lifted their price objective on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an underweight rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Ariad Pharmaceuticals has a consensus rating of Buy and an average price target of $11.89.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 14.77% during trading on Friday, hitting $11.14. 19,778,649 shares of the stock were exchanged. The stock has a 50-day moving average of $12.18 and a 200 day moving average of $9.04. The stock’s market cap is $2.15 billion. Ariad Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $14.34.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.70. The business earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. The business’s revenue for the quarter was up 133.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS. Equities analysts predict that Ariad Pharmaceuticals will post ($0.09) earnings per share for the current fiscal year.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $13.98, for a total value of $122,325.00. Following the sale, the insider now directly owns 226,272 shares in the company, valued at $3,163,282.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy P. Clackson sold 59,369 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $11.73, for a total transaction of $696,398.37. Following the completion of the sale, the insider now owns 288,141 shares in the company, valued at $3,379,893.93. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
A number of large investors have recently modified their holdings of ARIA. Steinberg Global Asset Management boosted its stake in shares of Ariad Pharmaceuticals by 12.7% in the first quarter. Steinberg Global Asset Management now owns 47,100 shares of the pharmaceutical company’s stock valued at $301,000 after buying an additional 5,300 shares during the period. TIAA CREF Trust Co. FSB MO acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter valued at approximately $222,000. Price Michael F boosted its stake in shares of Ariad Pharmaceuticals by 31.1% in the first quarter. Price Michael F now owns 1,075,000 shares of the pharmaceutical company’s stock valued at $6,869,000 after buying an additional 255,000 shares during the period. Consonance Capital Management LP acquired a new stake in shares of Ariad Pharmaceuticals during the first quarter valued at approximately $35,629,000. Finally, Bellevue Group AG acquired a new stake in shares of Ariad Pharmaceuticals during the first quarter valued at approximately $3,163,000. Hedge funds and other institutional investors own 71.99% of the company’s stock.
About Ariad Pharmaceuticals
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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