Ariad Pharmaceuticals Inc. (ARIA) VP Daniel M. Bollag Sells 47,384 Shares of Stock
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) VP Daniel M. Bollag sold 47,384 shares of the business’s 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 completion of the transaction, the vice president now directly owns 129,404 shares of the company’s stock, valued at $1,741,777.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded up 0.52% during midday trading on Friday, reaching $13.42. The company’s stock had a trading volume of 506,955 shares. The firm’s market capitalization is $2.59 billion. The stock’s 50-day moving average price is $11.72 and its 200-day moving average price is $8.77. Ariad Pharmaceuticals Inc. has a 12 month low of $4.37 and a 12 month high of $14.26.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) 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 analysts’ expectations of $60.64 million. During the same quarter in the prior year, the business posted ($0.28) earnings per share. Ariad Pharmaceuticals’s revenue was up 133.0% on a year-over-year basis. Analysts predict that Ariad Pharmaceuticals Inc. will post ($0.09) EPS for the current year.
A number of brokerages have recently commented on ARIA. Zacks Investment Research raised 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. Leerink Swann began coverage on Ariad Pharmaceuticals in a research report on Monday, September 26th. They issued an “outperform” rating for the company. SunTrust Banks Inc. began coverage on Ariad Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a research report on Sunday, July 31st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Ariad Pharmaceuticals has an average rating of “Buy” and a consensus target price of $10.13.
Several hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position 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 last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA increased its position in 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 during the last quarter. Seven Eight Capital LLC acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $117,000. Finally, Fiera Capital Corp acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $118,000. 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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