Ariad Pharmaceuticals Inc. to Post FY2016 Earnings of ($0.09) Per Share, Leerink Swann Forecasts (ARIA)
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Equities research analysts at Leerink Swann issued their FY2016 earnings per share estimates for shares of Ariad Pharmaceuticals in a report released on Monday. Leerink Swann analyst M. Schmidt anticipates that the firm will earn ($0.09) per share for the year. Leerink Swann has a “Outperform” rating on the stock.
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 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 last year, the firm posted ($0.28) earnings per share. Ariad Pharmaceuticals’s revenue was up 133.0% compared to the same quarter last year.
A number of other brokerages have also recently weighed in on ARIA. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Tuesday, July 5th. JMP Securities reiterated a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Cowen and Company reiterated a “buy” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Barclays PLC upped their price target on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ariad Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $10.13.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 0.36% during midday trading on Wednesday, reaching $14.00. 2,880,768 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $11.02 and its 200 day moving average price is $8.42. Ariad Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $14.26. The firm’s market capitalization is $2.70 billion.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Ariad Pharmaceuticals during the fourth quarter valued at $10,412,000. Rehmann Capital Advisory Group bought a new position in Ariad Pharmaceuticals during the first quarter valued at $128,000. BlackRock Group LTD raised its position in Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock valued at $1,097,000 after buying an additional 19,123 shares during the last quarter. Spark Investment Management LLC raised its position in Ariad Pharmaceuticals by 40.6% in the first quarter. Spark Investment Management LLC now owns 126,700 shares of the pharmaceutical company’s stock valued at $809,000 after buying an additional 36,600 shares during the last quarter. Finally, Consonance Capital Management LP bought a new position in Ariad Pharmaceuticals during the first quarter valued at $35,629,000. 71.99% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Timothy P. Clackson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $13.43, for a total value of $268,600.00. Following the transaction, the insider now owns 208,772 shares in the company, valued at $2,803,807.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy P. Clackson sold 18,286 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $8.11, for a total value of $148,299.46. Following the completion of the transaction, the insider now owns 248,208 shares in the company, valued at approximately $2,012,966.88. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
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).
Receive News & Stock Ratings for Ariad Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ariad Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.