Ariad Pharmaceuticals Inc. (ARIA) Trading 3.9% Higher
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded up 3.9% on Friday . The company traded as high as $10.70 and last traded at $10.56, with a volume of 4,371,913 shares changing hands. The stock had previously closed at $10.16.
A number of equities research analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. William Blair reaffirmed a “buy” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, May 24th. Zacks Investment Research downgraded Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 8th. JMP Securities reaffirmed an “outperform” rating and issued 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 issued 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 given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.19.
The stock has a 50-day moving average of $8.22 and a 200 day moving average of $7.06. The company’s market capitalization is $2.02 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.70. The company earned $65.30 million during the quarter, compared to the consensus estimate of $60.64 million. Ariad Pharmaceuticals’s quarterly revenue was up 133.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) earnings per share. On average, equities research analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.08) earnings per share for the current year.
In related 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Hugh M. Cole sold 6,012 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $7.05, for a total transaction of $42,384.60. Following the completion of the transaction, the senior vice president now directly owns 29,262 shares of the company’s stock, valued at $206,297.10. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Ariad Pharmaceuticals stock. New York State Common Retirement Fund increased its position in Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 193,180 shares of the pharmaceutical company’s stock after buying an additional 29,480 shares during the period. New York State Common Retirement Fund owned approximately 0.10% of Ariad Pharmaceuticals worth $1,207,000 at the end of the most recent reporting 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).