Ariad Pharmaceuticals Inc. (ARIA) Sees Large Growth in Short Interest
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 36,598,878 shares, a growth of 14.0% from the October 14th total of 32,115,603 shares. Based on an average trading volume of 9,715,673 shares, the days-to-cover ratio is presently 3.8 days. Approximately 19.7% of the shares of the company are sold short.
Several analysts recently issued reports on ARIA shares. Barclays PLC boosted their price target on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, July 29th. Jefferies Group restated a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research note on Friday, July 29th. Cowen and Company restated an “outperform” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Leerink Swann started coverage on Ariad Pharmaceuticals in a research note on Monday, September 26th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research note on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Ariad Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $11.79.
In other news, insider Timothy P. Clackson sold 19,436 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.47, for a total transaction of $203,494.92. Following the completion of the transaction, the insider now directly owns 228,772 shares in the company, valued at approximately $2,395,242.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy P. Clackson sold 19,638 shares of Ariad Pharmaceuticals stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $9.56, for a total value of $187,739.28. Following the transaction, the insider now owns 197,884 shares of the company’s stock, valued at $1,891,771.04. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ARIA. BlackRock Group LTD raised its position in shares of Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock valued at $1,097,000 after buying an additional 19,123 shares during the period. Bellevue Group AG purchased a new position in shares of Ariad Pharmaceuticals during the first quarter valued at $3,163,000. 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. Creative Planning raised its position in shares of Ariad Pharmaceuticals by 18.4% in the second quarter. Creative Planning now owns 29,000 shares of the pharmaceutical company’s stock valued at $214,000 after buying an additional 4,500 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $169,000. 71.97% of the stock is owned by institutional investors and hedge funds.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 11.77 on Friday. The firm’s market cap is $2.27 billion. Ariad Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $14.34. The stock’s 50 day moving average price is $11.54 and its 200-day moving average price is $9.45.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings data on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.07. The firm had revenue of $34.30 million for the quarter, compared to the consensus estimate of $42.93 million. During the same period last year, the company posted ($0.29) earnings per share. Ariad Pharmaceuticals’s revenue for the quarter was up 58.3% on a year-over-year basis. Equities research analysts anticipate that Ariad Pharmaceuticals will post ($0.05) earnings per share for the current fiscal year.
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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