Ariad Pharmaceuticals Inc. (ARIA) Receives $11.79 Consensus PT from Brokerages
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) have been given an average recommendation of “Hold” by the twelve research firms that are covering the firm. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.87.
A number of research firms have recently issued reports on ARIA. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, September 28th. Leerink Swann reiterated an “outperform” rating and issued a $20.00 price objective on shares of Ariad Pharmaceuticals in a report on Wednesday, October 12th. SunTrust Banks Inc. began coverage on shares of Ariad Pharmaceuticals in a report on Tuesday, October 4th. They issued a “buy” rating on the stock. Cowen and Company reiterated an “outperform” rating and issued a $16.00 price objective (up from $10.00) on shares of Ariad Pharmaceuticals in a report on Saturday, October 15th. Finally, JPMorgan Chase & Co. downgraded shares of Ariad Pharmaceuticals from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $9.97 to $7.00 in a report on Monday, October 24th.
In other Ariad Pharmaceuticals news, VP Daniel M. Bollag sold 47,384 shares of Ariad Pharmaceuticals stock in a transaction on 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 directly owns 129,404 shares of the company’s stock, valued at $1,741,777.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy P. Clackson sold 8,750 shares of Ariad Pharmaceuticals stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total transaction of $122,325.00. Following the transaction, the insider now directly owns 226,272 shares of the company’s stock, valued at $3,163,282.56. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ARIA. Steinberg Global Asset Management boosted its position 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 during the period. TIAA CREF Trust Co. FSB MO purchased a new stake in Ariad Pharmaceuticals during the second quarter worth $222,000. Teacher Retirement System of Texas increased its stake in Ariad Pharmaceuticals by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 23,057 shares of the pharmaceutical company’s stock worth $170,000 after buying an additional 1,027 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Ariad Pharmaceuticals by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 137,570 shares of the pharmaceutical company’s stock worth $1,017,000 after buying an additional 1,270 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Ariad Pharmaceuticals by 20.9% in the second quarter. Bank of New York Mellon Corp now owns 1,035,881 shares of the pharmaceutical company’s stock worth $7,655,000 after buying an additional 178,750 shares in the last quarter. 71.30% of the stock is owned by hedge funds and other institutional investors.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 14.06 on Tuesday. The firm’s market capitalization is $2.73 billion. The company’s 50-day moving average is $11.38 and its 200 day moving average is $9.68. Ariad Pharmaceuticals has a 1-year low of $4.37 and a 1-year high of $14.34.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced 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 company had revenue of $34.30 million for the quarter, compared to analyst estimates of $42.93 million. The business’s quarterly revenue was up 58.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) earnings per share. On average, equities analysts expect that Ariad Pharmaceuticals will post ($0.04) EPS 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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