Ariad Pharmaceuticals Inc. (ARIA) Receives Buy Rating from Leerink Swann
Other equities research analysts have also issued reports about the company. Jefferies Group restated a buy rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Friday, July 29th. SunTrust Banks Inc. started coverage on Ariad Pharmaceuticals in a report on Tuesday, October 4th. They set a buy rating for the company. Deutsche Bank AG started coverage on Ariad Pharmaceuticals in a report on Thursday, November 3rd. They set a hold rating and a $9.50 price target for the company. JMP Securities lowered 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 report on Tuesday, October 25th. They noted that the move was a valuation call. Finally, Cowen and Company reiterated an outperform rating and set a $16.00 price target on shares of Ariad Pharmaceuticals in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Ariad Pharmaceuticals currently has a consensus rating of Hold and an average price target of $11.79.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 0.86% during trading on Thursday, reaching $13.77. 985,970 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $11.44 and its 200-day moving average price is $9.66. Ariad Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $14.34. The company’s market capitalization is $2.67 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.07. The company earned $34.30 million during the quarter, compared to analyst estimates of $42.93 million. During the same quarter last year, the firm posted ($0.29) earnings per share. The firm’s revenue for the quarter was up 58.3% compared to the same quarter last year. Equities analysts expect that Ariad Pharmaceuticals will post ($0.04) earnings per share for the current year.
In related news, insider Timothy P. Clackson sold 19,638 shares of the stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $9.56, for a total transaction of $187,739.28. Following the completion of the transaction, the insider now directly owns 197,884 shares in the company, valued at $1,891,771.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timothy P. Clackson sold 59,369 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $11.73, for a total value of $696,398.37. Following the transaction, the insider now owns 288,141 shares of the company’s stock, valued at $3,379,893.93. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ARIA. Price T Rowe Associates Inc. MD increased its position in Ariad Pharmaceuticals by 8,002.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,019,988 shares of the pharmaceutical company’s stock worth $82,414,000 after buying an additional 5,945,688 shares during the last quarter. Dai Ichi Life Holdings Inc. purchased a new position in Ariad Pharmaceuticals during the third quarter worth about $877,000. Redmile Group LLC purchased a new position in Ariad Pharmaceuticals during the third quarter worth about $29,276,000. Panagora Asset Management Inc. increased its position in Ariad Pharmaceuticals by 215.4% in the third quarter. Panagora Asset Management Inc. now owns 94,588 shares of the pharmaceutical company’s stock worth $1,295,000 after buying an additional 64,594 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new position in Ariad Pharmaceuticals during the third quarter worth about $2,120,000. Institutional investors and hedge funds own 71.30% 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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