Ariad Pharmaceuticals Inc. (ARIA) to Post FY2016 Earnings of ($0.04) Per Share, SunTrust Banks Forecasts
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Equities researchers at SunTrust Banks boosted their FY2016 earnings per share estimates for shares of Ariad Pharmaceuticals in a research note issued to investors on Monday. SunTrust Banks analyst Y. Suneja now expects that the firm will post earnings of ($0.04) per share for the year, up from their previous estimate of ($0.09). SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ariad Pharmaceuticals’ Q4 2016 earnings at ($0.19) EPS, Q1 2017 earnings at ($0.21) EPS, Q2 2017 earnings at ($0.21) EPS, Q3 2017 earnings at ($0.22) EPS, Q4 2017 earnings at ($0.57) EPS, FY2017 earnings at $0.11 EPS and FY2018 earnings at $0.63 EPS.
Several other brokerages also recently weighed in on ARIA. JMP Securities downgraded Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $4.37 to $9.37 in a report on Tuesday, October 25th. They noted that the move was a valuation call. Leerink Swann reissued an “outperform” rating and issued a $20.00 price target on shares of Ariad Pharmaceuticals in a report on Wednesday, October 12th. JPMorgan Chase & Co. downgraded Ariad Pharmaceuticals from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $9.97 to $7.00 in a report on Monday, October 24th. Cowen and Company reissued an “outperform” rating and issued a $16.00 price target on shares of Ariad Pharmaceuticals in a report on Tuesday. Finally, Barclays PLC raised their price target on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.79.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 11.77 on Wednesday. Ariad Pharmaceuticals has a 1-year low of $4.37 and a 1-year high of $14.34. The firm has a 50-day moving average price of $11.54 and a 200 day moving average price of $9.45. The company’s market capitalization is $2.27 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings data on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. The company had revenue of $34.30 million for the quarter, compared to the consensus estimate of $42.93 million. The company’s revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.29) earnings per share.
In other news, insider Timothy P. Clackson sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $13.43, for a total value of $268,600.00. Following the completion of the sale, the insider now directly owns 208,772 shares in the company, valued at $2,803,807.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy P. Clackson sold 19,436 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.47, for a total value of $203,494.92. Following the completion of the sale, the insider now owns 228,772 shares of the company’s stock, valued at $2,395,242.84. The disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of ARIA. Ameritas Investment Partners Inc. boosted its stake 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 worth $102,000 after buying an additional 866 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Ariad Pharmaceuticals during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA boosted its stake 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 worth $200,000 after buying an additional 7,675 shares during the period. Seven Eight Capital LLC acquired a new stake in Ariad Pharmaceuticals during the second quarter worth approximately $117,000. Finally, Fiera Capital Corp acquired a new stake in Ariad Pharmaceuticals during the second quarter worth approximately $118,000. Institutional investors and hedge funds own 71.97% of the company’s stock.
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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