Equities Analysts Set Expectations for Ariad Pharmaceuticals Inc.’s FY2017 Earnings (ARIA)
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Equities research analysts at SunTrust Banks issued their FY2017 earnings per share estimates for shares of Ariad Pharmaceuticals in a report released on Thursday. SunTrust Banks analyst Y. Suneja anticipates that the brokerage will post earnings per share of ($0.73) for the year. SunTrust Banks has a “Buy” rating on the stock.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.70. The company earned $65.30 million during the quarter, compared to the consensus estimate of $60.64 million. During the same period last year, the firm posted ($0.28) EPS. The company’s revenue was up 133.0% on a year-over-year basis.
ARIA has been the topic of a number of other reports. Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. Zacks Investment Research lowered Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, July 8th. Leerink Swann initiated coverage on Ariad Pharmaceuticals in a research report on Monday, September 26th. They set an “outperform” rating for the company. Cowen and Company restated an “outperform” rating and set a $10.00 price objective on shares of Ariad Pharmaceuticals in a research report on Sunday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $11.89.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 0.36% during midday trading on Monday, hitting $11.16. The stock had a trading volume of 3,935,450 shares. Ariad Pharmaceuticals has a 1-year low of $4.37 and a 1-year high of $14.34. The company’s market capitalization is $2.15 billion. The stock’s 50-day moving average is $12.20 and its 200-day moving average is $9.11.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Steinberg Global Asset Management raised its position in shares of Ariad Pharmaceuticals by 12.7% in the first quarter. Steinberg Global Asset Management now owns 47,100 shares of the pharmaceutical company’s stock valued at $301,000 after buying an additional 5,300 shares during the period. TIAA CREF Trust Co. FSB MO bought a new stake in Ariad Pharmaceuticals during the second quarter valued at $222,000. Price Michael F increased its stake in Ariad Pharmaceuticals by 31.1% in the first quarter. Price Michael F now owns 1,075,000 shares of the pharmaceutical company’s stock valued at $6,869,000 after buying an additional 255,000 shares in the last quarter. Consonance Capital Management LP bought a new stake in Ariad Pharmaceuticals during the first quarter valued at $35,629,000. Finally, Bellevue Group AG bought a new stake in Ariad Pharmaceuticals during the first quarter valued at $3,163,000. Institutional investors and hedge funds own 71.99% of the company’s stock.
In other Ariad Pharmaceuticals news, VP Daniel M. Bollag sold 47,384 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was 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 owns 129,404 shares in the company, valued at $1,741,777.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy P. Clackson sold 18,286 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $8.11, for a total value of $148,299.46. Following the transaction, the insider now owns 248,208 shares of the company’s stock, valued at approximately $2,012,966.88. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate insiders.
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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