Ariad Pharmaceuticals Inc. (ARIA) Given “Outperform” Rating at Leerink Swann
Leerink Swann restated their outperform rating on shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) in a report published on Wednesday. They currently have a $20.00 price objective on the pharmaceutical company’s stock.
Other equities analysts have also issued reports about the stock. SunTrust Banks Inc. initiated coverage on shares of Ariad Pharmaceuticals in a report on Tuesday, October 4th. They issued a buy rating on the stock. Zacks Investment Research raised shares of Ariad Pharmaceuticals from a hold rating to a buy rating and set a $8.50 target price on the stock in a report on Tuesday, July 5th. Jefferies Group reissued a buy rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. Royal Bank Of Canada reissued a hold rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. Finally, Cowen and Company reissued an outperform rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Ariad Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $11.22.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 1.914% during midday trading on Wednesday, hitting $13.045. 2,591,806 shares of the company were exchanged. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The firm’s 50-day moving average price is $12.07 and its 200-day moving average price is $8.97. The stock’s market capitalization is $2.51 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.70. The business had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. During the same period in the prior year, the business posted ($0.28) earnings per share. Ariad Pharmaceuticals’s revenue was up 133.0% compared to the same quarter last year. Equities research analysts anticipate that Ariad Pharmaceuticals will post ($0.09) earnings per share for the current year.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 59,369 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $11.73, for a total transaction of $696,398.37. Following the completion of the sale, the insider now owns 288,141 shares in the company, valued at approximately $3,379,893.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy P. Clackson sold 8,750 shares of the business’s stock in a transaction 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 sale, the insider now owns 226,272 shares of the company’s stock, valued at approximately $3,163,282.56. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Ariad Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,724,399 shares of the pharmaceutical company’s stock worth $94,033,000 after buying an additional 259,003 shares during the period. FMR LLC raised its stake in shares of Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock worth $45,300,000 after buying an additional 2,589,810 shares during the period. State Street Corp raised its stake in shares of Ariad Pharmaceuticals by 1.8% in the second quarter. State Street Corp now owns 5,795,195 shares of the pharmaceutical company’s stock worth $42,831,000 after buying an additional 100,436 shares during the period. Consonance Capital Management LP acquired a new stake in shares of Ariad Pharmaceuticals during the first quarter worth approximately $35,629,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Ariad Pharmaceuticals by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,546,501 shares of the pharmaceutical company’s stock worth $33,599,000 after buying an additional 41,983 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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