Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) shares fell 3.8% during trading on Thursday following insider selling activity. The stock traded as low as $13.34 and last traded at $13.34, with a volume of 6,163,125 shares changing hands. The stock had previously closed at $13.87.

Specifically, 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 transaction of $637,788.64. Following the completion of the transaction, the vice president now directly owns 129,404 shares in the company, valued at $1,741,777.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy P. Clackson sold 8,750 shares of Ariad Pharmaceuticals stock in a transaction that occurred on 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 of the company’s stock, valued at $3,163,282.56. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

Several research firms have recently issued reports on ARIA. Barclays PLC lifted their target price on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company 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 restated an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Leerink Swann started coverage on shares of Ariad Pharmaceuticals in a report on Monday, September 26th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. 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 given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.13.

The firm’s 50 day moving average price is $11.72 and its 200 day moving average price is $8.77. The company’s market capitalization is $2.57 billion.

Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.70. The company earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. During the same quarter in the previous year, the company posted ($0.28) EPS. The company’s quarterly revenue was up 133.0% on a year-over-year basis. Equities research analysts predict that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ARIA. Ameritas Investment Partners Inc. increased its stake 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 during the period. Teacher Retirement System of Texas increased its stake in Ariad Pharmaceuticals by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 23,057 shares of the pharmaceutical company’s stock valued at $170,000 after buying an additional 1,027 shares during the period. Amalgamated Bank increased its stake in Ariad Pharmaceuticals by 6.5% in the second quarter. Amalgamated Bank now owns 18,729 shares of the pharmaceutical company’s stock valued at $190,000 after buying an additional 1,135 shares during the period. Family Management Corp increased its stake in Ariad Pharmaceuticals by 0.7% in the second quarter. Family Management Corp now owns 179,515 shares of the pharmaceutical company’s stock valued at $1,327,000 after buying an additional 1,250 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Ariad Pharmaceuticals by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 137,570 shares of the pharmaceutical company’s stock valued at $1,017,000 after buying an additional 1,270 shares during the period. Institutional investors and hedge funds 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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