Timothy P. Clackson Sells 8,750 Shares of Ariad Pharmaceuticals Inc. (ARIA) Stock
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) insider Timothy P. Clackson sold 8,750 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $13.98, for a total transaction of $122,325.00. Following the transaction, the insider now owns 226,272 shares in the company, valued at $3,163,282.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) opened at 13.71 on Friday. Ariad Pharmaceuticals Inc. has a 52 week low of $4.37 and a 52 week high of $14.26. The stock’s 50 day moving average is $11.28 and its 200 day moving average is $8.51. The company’s market capitalization is $2.64 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping 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. The business’s revenue for the quarter was up 133.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) earnings per share. Analysts predict that Ariad Pharmaceuticals Inc. will post ($0.09) EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. Cowen and Company reiterated an “outperform” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research report on Sunday, July 31st. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Wednesday. Jefferies Group reiterated a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Wednesday, June 22nd. Leerink Swann assumed coverage on shares of Ariad Pharmaceuticals in a research report on Monday. They issued an “outperform” rating on the stock. Finally, JMP Securities reiterated a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. 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 assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $10.13.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Ariad Pharmaceuticals during the fourth quarter valued at $10,412,000. Rehmann Capital Advisory Group purchased a new stake in Ariad Pharmaceuticals during the first quarter valued at $128,000. BlackRock Group LTD boosted its stake 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 period. Spark Investment Management LLC boosted its stake 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 period. Finally, Consonance Capital Management LP purchased a new stake in Ariad Pharmaceuticals during the first quarter valued at $35,629,000. 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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