Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) hit a new 52-week high during trading on Tuesday . The company traded as high as $13.05 and last traded at $12.85, with a volume of 6,320,740 shares changing hands. The stock had previously closed at $12.11.

ARIA has been the topic of a number of recent research reports. Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a research report on Tuesday, May 24th. William Blair reiterated a “buy” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research report on Tuesday, May 24th. Cowen and Company reiterated a “buy” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. JMP Securities reiterated a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $9.19.

The firm’s market cap is $2.46 billion. The stock’s 50-day moving average price is $10.43 and its 200 day moving average price is $8.12.

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Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.70. The business had revenue of $65.30 million for the quarter, compared to analyst estimates of $60.64 million. During the same period last year, the business posted ($0.28) EPS. Ariad Pharmaceuticals’s revenue was up 133.0% on a year-over-year basis. Equities research analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current fiscal year.

In other Ariad Pharmaceuticals news, SVP Hugh M. Cole sold 6,012 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $7.05, for a total transaction of $42,384.60. Following the transaction, the senior vice president now owns 29,262 shares of the company’s stock, valued at $206,297.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Timothy P. Clackson sold 23,999 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $7.28, for a total value of $174,712.72. Following the transaction, the insider now directly owns 264,742 shares in the company, valued at approximately $1,927,321.76. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARIA. Ameritas Investment Partners Inc. raised its position in Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 866 shares during the period. Teacher Retirement System of Texas raised its position in Ariad Pharmaceuticals by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 23,057 shares of the pharmaceutical company’s stock valued at $170,000 after buying an additional 1,027 shares during the period. Amalgamated Bank raised its position in Ariad Pharmaceuticals by 6.5% in the second quarter. Amalgamated Bank now owns 18,729 shares of the pharmaceutical company’s stock valued at $190,000 after buying an additional 1,135 shares during the period. Family Management Corp raised its position in Ariad Pharmaceuticals by 0.7% in the second quarter. Family Management Corp now owns 179,515 shares of the pharmaceutical company’s stock valued at $1,327,000 after buying an additional 1,250 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Ariad Pharmaceuticals by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 137,570 shares of the pharmaceutical company’s stock valued at $1,017,000 after buying an additional 1,270 shares during the period. 71.99% of the stock is currently 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).

5 Day Chart for NASDAQ:ARIA

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