FY2016 EPS Estimates for Ariad Pharmaceuticals Inc. Increased by Leerink Swann (ARIA)
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Analysts at Leerink Swann increased their FY2016 earnings per share (EPS) estimates for Ariad Pharmaceuticals in a report released on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the firm will earn ($0.03) per share for the year, up from their prior forecast of ($0.10). Leerink Swann has a “Outperform” rating and a $20.00 price target on the stock. Leerink Swann also issued estimates for Ariad Pharmaceuticals’ Q4 2016 earnings at ($0.18) EPS and FY2017 earnings at ($0.47) EPS.
Several other equities research analysts have also recently weighed in on ARIA. Cowen and Company reissued an “outperform” rating and set a $16.00 price target on shares of Ariad Pharmaceuticals in a research report on Tuesday. Barclays PLC increased their price target on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. William Blair reissued an “outperform” rating and set a $15.00 price target (up previously from $12.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. JPMorgan Chase & Co. cut shares of Ariad Pharmaceuticals from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $9.97 to $7.00 in a research report on Monday, October 24th. Finally, Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.79.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 12.43 on Thursday. The stock’s market capitalization is $2.40 billion. The company’s 50-day moving average is $11.51 and its 200 day moving average is $9.49. Ariad Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $14.34.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.07. The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) earnings per share.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock worth $1,097,000 after buying an additional 19,123 shares in the last quarter. Bellevue Group AG purchased a new stake in Ariad Pharmaceuticals during the first quarter worth $3,163,000. Steinberg Global Asset Management raised its stake in Ariad Pharmaceuticals by 12.7% in the first quarter. Steinberg Global Asset Management now owns 47,100 shares of the pharmaceutical company’s stock worth $301,000 after buying an additional 5,300 shares in the last quarter. Creative Planning raised its stake in Ariad Pharmaceuticals by 18.4% in the second quarter. Creative Planning now owns 29,000 shares of the pharmaceutical company’s stock worth $214,000 after buying an additional 4,500 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Ariad Pharmaceuticals during the second quarter worth $169,000. Institutional investors and hedge funds own 71.97% of the company’s stock.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 59,369 shares of the firm’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 directly owns 288,141 shares in the company, valued at approximately $3,379,893.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Daniel M. Bollag sold 47,384 shares of the firm’s 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 sale, the vice president now owns 129,404 shares of the company’s stock, valued at $1,741,777.84. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
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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