Ariad Pharmaceuticals’ (ARIA) “Outperform” Rating Reaffirmed at Leerink Swann
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Leerink Swann in a report issued on Wednesday. They presently have a $20.00 target price on the pharmaceutical company’s stock. Leerink Swann’s price objective indicates a potential upside of 46.52% from the company’s current price.
Other equities analysts have also issued research reports about the stock. Barclays PLC increased their price target on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Zacks Investment Research lowered shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Cowen and Company reaffirmed an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. Finally, SunTrust Banks Inc. initiated coverage on shares of Ariad Pharmaceuticals in a report on Tuesday, October 4th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Ariad Pharmaceuticals has a consensus rating of “Buy” and an average target price of $11.22.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 2.207% during mid-day trading on Wednesday, reaching $13.339. 1,073,250 shares of the company’s stock were exchanged. The firm’s market cap is $2.57 billion. The company 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 results on Thursday, July 28th. The pharmaceutical company reported $0.59 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) EPS. Analysts forecast 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 Ariad Pharmaceuticals stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $13.46, for a total value of $637,788.64. Following the completion of the sale, the vice president now directly owns 129,404 shares in the company, valued at $1,741,777.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy P. Clackson sold 18,286 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $8.11, for a total transaction of $148,299.46. Following the completion of the sale, the insider now owns 248,208 shares of the company’s stock, valued at $2,012,966.88. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $107,000. BNP Paribas Arbitrage SA increased its position in shares of Ariad Pharmaceuticals by 110.4% in the third quarter. BNP Paribas Arbitrage SA now owns 14,629 shares of the pharmaceutical company’s stock valued at $200,000 after buying an additional 7,675 shares in the last quarter. Seven Eight Capital LLC purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $117,000. Finally, Fiera Capital Corp purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $118,000. Hedge funds and other institutional investors 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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