Ariad Pharmaceuticals Inc. (ARIA) Reaches New 1-Year High at $10.18
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $10.18 and last traded at $9.99, with a volume of 2,598,901 shares. The stock had previously closed at $9.93.
A number of brokerages have recently commented on ARIA. Jefferies Group reissued a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. William Blair reaffirmed a “buy” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. Zacks Investment Research lowered shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 8th. JMP Securities reaffirmed an “outperform” rating and set a $9.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, April 19th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $9.19.
The firm’s 50 day moving average is $7.92 and its 200 day moving average is $6.93. The stock’s market capitalization is $1.94 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the 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 period in the prior year, the firm earned ($0.28) EPS. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% compared to the same quarter last year. Equities analysts expect that Ariad Pharmaceuticals Inc. will post ($0.08) earnings per share for the current fiscal year.
In related news, CEO Paris Panayiotopoulos bought 26,990 shares of the stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $7.41 per share, with a total value of $199,995.90. Following the completion of the acquisition, the chief executive officer now owns 61,099 shares of the company’s stock, valued at $452,743.59. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Massimo Radaelli sold 108,569 shares of the business’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $8.25, for a total transaction of $895,694.25. Following the completion of the transaction, the director now directly owns 128,088 shares in the company, valued at approximately $1,056,726. The disclosure for this sale can be found here.
Other institutional investors recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in Ariad Pharmaceuticals by 7.8% in the fourth quarter. Rhumbline Advisers now owns 174,193 shares of the pharmaceutical company’s stock valued at $1,089,000 after buying an additional 12,560 shares during the period. New York State Common Retirement Fund increased its position in Ariad Pharmaceuticals by 18.0% in the fourth quarter. New York State Common Retirement Fund now owns 193,180 shares of the pharmaceutical company’s stock valued at $1,207,000 after buying an additional 29,480 shares during the period. Finally, California State Teachers Retirement System increased its position in Ariad Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 310,276 shares of the pharmaceutical company’s stock valued at $1,939,000 after buying an additional 5,000 shares during the period.
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).