Ariad Pharmaceuticals Inc. (ARIA) Given Average Recommendation of “Buy” by Brokerages
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) have been assigned an average rating of “Buy” from the eleven brokerages that are presently covering the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.29.
ARIA has been the topic of several recent analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research note on Friday, July 29th. Zacks Investment Research raised Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Tuesday, July 5th. SunTrust Banks Inc. initiated coverage on Ariad Pharmaceuticals in a report on Tuesday, October 4th. They issued a “buy” rating on the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 2.89% during trading on Tuesday, hitting $13.78. The stock had a trading volume of 2,757,339 shares. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The firm has a 50 day moving average of $11.92 and a 200-day moving average of $8.91. The company’s market cap is $2.66 billion.
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Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The business earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. During the same period last year, the company earned ($0.28) EPS. The business’s revenue for the quarter was up 133.0% on a year-over-year basis. Equities analysts anticipate that Ariad Pharmaceuticals will post ($0.09) earnings per share for the current fiscal year.
In other news, VP Daniel M. Bollag sold 47,384 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $13.46, for a total transaction of $637,788.64. Following the completion of the transaction, the vice president now directly owns 129,404 shares of the company’s stock, valued at approximately $1,741,777.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Timothy P. Clackson sold 25,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $10.50, for a total value of $262,500.00. Following the transaction, the insider now directly owns 273,208 shares of the company’s stock, valued at $2,868,684. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARIA. Ameritas Investment Partners Inc. boosted 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ariad Pharmaceuticals during the second quarter valued at about $107,000. Seven Eight Capital LLC acquired a new position in Ariad Pharmaceuticals during the second quarter valued at about $117,000. Fiera Capital Corp acquired a new position in Ariad Pharmaceuticals during the second quarter valued at about $118,000. Finally, BlackRock Inc. boosted its position in Ariad Pharmaceuticals by 56.0% in the second quarter. BlackRock Inc. now owns 18,045 shares of the pharmaceutical company’s stock valued at $133,000 after buying an additional 6,474 shares in the last quarter. 71.99% of the stock is owned by institutional investors and hedge funds.
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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