Ariad Pharmaceuticals Inc. (ARIA) Sees Unusually-High Trading Volume
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) saw unusually-strong trading volume on Wednesday . Approximately 6,800,884 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 5,673,076 shares.The stock last traded at $13.02 and had previously closed at $12.90.
Several equities research analysts have commented on the stock. JMP Securities restated a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Cowen and Company restated a “buy” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. William Blair restated a “buy” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a research report on Tuesday, May 24th. Jefferies Group restated a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a research report on Tuesday, May 24th. Finally, Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.19.
The stock’s market capitalization is $2.58 billion. The stock has a 50-day moving average of $10.62 and a 200-day moving average of $8.20.
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Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. During the same period in the prior year, the business earned ($0.28) EPS. The company’s quarterly revenue was up 133.0% compared to the same quarter last year. On average, analysts forecast that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current fiscal year.
In related news, insider Timothy P. Clackson sold 59,369 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $11.73, for a total value of $696,398.37. Following the completion of the transaction, the insider now owns 288,141 shares in the company, valued at approximately $3,379,893.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timothy P. Clackson sold 25,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $10.50, for a total value of $262,500.00. Following the completion of the transaction, the insider now owns 273,208 shares of the company’s stock, valued at approximately $2,868,684. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in ARIA. Consonance Capital Management LP bought a new position in Ariad Pharmaceuticals during the first quarter worth $35,629,000. FMR LLC increased its stake in shares of Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock valued at $45,300,000 after buying an additional 2,589,810 shares in the last quarter. Norges Bank acquired a new stake in shares of Ariad Pharmaceuticals during the fourth quarter valued at about $10,412,000. CQS Cayman LP acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter valued at about $8,365,000. Finally, Tekla Capital Management LLC acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter valued at about $3,710,000. Institutional investors and hedge funds 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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