Ariad Pharmaceuticals’ (ARIA) Outperform Rating Reaffirmed at Leerink Swann
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)‘s stock had its “outperform” rating reissued by research analysts at Leerink Swann in a research report issued to clients and investors on Wednesday. They currently have a $20.00 price objective on the pharmaceutical company’s stock. Leerink Swann’s price objective would suggest a potential upside of 46.52% from the company’s current price.
Several other brokerages also recently issued reports on ARIA. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, September 28th. SunTrust Banks Inc. began coverage on Ariad Pharmaceuticals in a research report on Tuesday, October 4th. They issued a “buy” rating for the company. Cowen and Company reiterated an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a research report on Sunday, July 31st. Jefferies Group reiterated a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Finally, Barclays PLC lifted their price objective on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.22.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 2.27% during midday trading on Wednesday, reaching $13.33. The company’s stock had a trading volume of 1,084,080 shares. The company’s market capitalization is $2.57 billion. The stock has a 50 day moving average price of $12.00 and a 200-day moving average price of $8.94. Ariad Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $14.34.
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Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (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 the consensus estimate of $60.64 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 133.0% compared to the same quarter last year. Equities research analysts expect that Ariad Pharmaceuticals will post ($0.09) EPS for the current year.
In related news, insider Timothy P. Clackson sold 8,750 shares of Ariad Pharmaceuticals stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total transaction of $122,325.00. Following the completion of the sale, the insider now directly owns 226,272 shares of the company’s stock, valued at $3,163,282.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel M. Bollag sold 47,384 shares of Ariad Pharmaceuticals stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $13.46, for a total value of $637,788.64. Following the sale, the vice president now directly owns 129,404 shares of the company’s stock, valued at $1,741,777.84. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
Several large investors have recently made changes to their positions in ARIA. Ameritas Investment Partners Inc. boosted its stake in shares of Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 866 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ariad Pharmaceuticals during the second quarter worth about $107,000. Seven Eight Capital LLC acquired a new position in Ariad Pharmaceuticals during the second quarter worth about $117,000. Fiera Capital Corp acquired a new position in Ariad Pharmaceuticals during the second quarter worth 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 worth $133,000 after buying an additional 6,474 shares during the last quarter. 71.99% of the stock is owned by institutional investors and hedge funds.
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).
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