Brokerages Set Ariad Pharmaceuticals Inc. (ARIA) PT at $10.29
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the stock. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.50.
A number of analysts have recently commented on ARIA shares. Cowen and Company reissued an “outperform” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research report on Tuesday, June 21st. Royal Bank Of Canada reissued a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. Jefferies Group reissued a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Wednesday, June 22nd. Zacks Investment Research raised 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. Finally, Barclays PLC boosted their price target on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.07 on Tuesday. The stock’s market capitalization is $2.52 billion. Ariad Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $14.34. The firm has a 50-day moving average price of $12.15 and a 200-day moving average price of $9.00.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company posted ($0.28) EPS. The firm’s revenue was up 133.0% on a year-over-year basis. On average, analysts predict that Ariad Pharmaceuticals will post ($0.09) EPS for the current year.
In other news, insider Timothy P. Clackson sold 59,369 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,379,893.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy P. Clackson sold 25,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $10.50, for a total transaction of $262,500.00. Following the sale, the insider now directly owns 273,208 shares of the company’s stock, valued at approximately $2,868,684. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in ARIA. Bank of New York Mellon Corp boosted its stake in Ariad Pharmaceuticals by 20.9% in the second quarter. Bank of New York Mellon Corp now owns 1,035,881 shares of the pharmaceutical company’s stock worth $7,655,000 after buying an additional 178,750 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Ariad Pharmaceuticals by 52.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 260,000 shares of the pharmaceutical company’s stock worth $1,921,000 after buying an additional 90,000 shares in the last quarter. Smith Asset Management Group LP bought a new stake in Ariad Pharmaceuticals during the second quarter worth approximately $268,000. Old Mutual Global Investors UK Ltd. boosted its stake in Ariad Pharmaceuticals by 24.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,518,921 shares of the pharmaceutical company’s stock worth $11,224,000 after buying an additional 295,559 shares in the last quarter. Finally, TIAA CREF Trust Co. FSB MO bought a new stake in Ariad Pharmaceuticals during the second quarter worth approximately $222,000. 71.99% of the stock is owned by institutional investors and hedge funds.
Ariad Pharmaceuticals Company Profile
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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