Brokers Set Expectations for Ariad Pharmaceuticals Inc.’s FY2016 Earnings (ARIA)
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Equities research analysts at William Blair upped their FY2016 earnings per share (EPS) estimates for Ariad Pharmaceuticals in a note issued to investors on Monday. William Blair analyst Y. Xu now anticipates that the firm will post earnings per share of ($0.01) for the year, up from their previous forecast of ($0.06). William Blair has a “Outperform” rating and a $15.00 price target on the stock. William Blair also issued estimates for Ariad Pharmaceuticals’ FY2017 earnings at ($0.38) EPS.
Other equities analysts have also issued research reports about the stock. SunTrust Banks Inc. started coverage on shares of Ariad Pharmaceuticals in a research report on Tuesday, October 4th. They set a “buy” rating for the company. Jefferies Group restated a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Deutsche Bank AG started coverage on shares of Ariad Pharmaceuticals in a research report on Thursday, November 3rd. They set a “hold” rating and a $9.50 price target for the company. JMP Securities lowered shares of Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $4.37 to $9.37 in a research report on Tuesday, October 25th. They noted that the move was a valuation call. Finally, Cowen and Company restated an “outperform” rating and set a $16.00 price target on shares of Ariad Pharmaceuticals in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.79.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 11.77 on Thursday. The stock’s market capitalization is $2.27 billion. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The stock’s 50 day moving average is $11.54 and its 200-day moving average is $9.45.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. The firm had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $42.93 million. The business’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share.
Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its position in shares of 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth $107,000. Seven Eight Capital LLC acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth $117,000. Fiera Capital Corp acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth $118,000. Finally, BlackRock Inc. increased its stake in shares of Ariad Pharmaceuticals by 56.0% in the second quarter. BlackRock Inc. now owns 18,045 shares of the pharmaceutical company’s stock worth $133,000 after buying an additional 6,474 shares during the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.
In related news, insider Timothy P. Clackson sold 19,638 shares of the stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $9.56, for a total value of $187,739.28. Following the completion of the transaction, the insider now owns 197,884 shares in the company, valued at approximately $1,891,771.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel M. Bollag sold 47,384 shares of the stock in a transaction dated Monday, October 3rd. The shares were 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 of the company’s stock, valued at approximately $1,741,777.84. The disclosure for this sale can be found here. 8.20% of the stock is currently 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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