Ariad Pharmaceuticals Inc. (ARIA) Earns Positive Rating from Leerink Swann
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)‘s stock had its “positive” rating reiterated by analysts at Leerink Swann in a research report issued on Tuesday.
Several other analysts have also issued reports on ARIA. William Blair reiterated an “outperform” rating and issued a $15.00 target price (up previously from $12.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. Cowen and Company reiterated an “outperform” rating and issued a $16.00 target price on shares of Ariad Pharmaceuticals in a research report on Tuesday, November 8th. JPMorgan Chase & Co. lowered shares of Ariad Pharmaceuticals from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $9.97 to $7.00 in a research report on Monday, October 24th. JMP Securities lowered shares of Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating and boosted 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, Jefferies Group restated a “buy” rating and set a $11.00 price target (down from $13.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Ariad Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $11.79.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 1.86% during mid-day trading on Tuesday, reaching $13.95. 5,514,376 shares of the company were exchanged. The company’s market capitalization is $2.71 billion. The company has a 50 day moving average of $11.42 and a 200-day moving average of $10.00. Ariad Pharmaceuticals has a 1-year low of $4.37 and a 1-year high of $14.42.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating 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 business earned ($0.29) EPS. The firm’s revenue for the quarter was up 58.3% compared to the same quarter last year. On average, equities research analysts forecast that Ariad Pharmaceuticals will post ($0.04) EPS for the current year.
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 shares were sold at an average price of $13.43, for a total value of $268,600.00. Following the sale, the insider now directly owns 208,772 shares of the company’s stock, valued at approximately $2,803,807.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy P. Clackson sold 8,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $13.98, for a total transaction of $122,325.00. Following the completion of the sale, the insider now directly owns 226,272 shares in the company, valued at $3,163,282.56. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake 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 period. FMR LLC increased its stake in Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock worth $45,300,000 after buying an additional 2,589,810 shares during the period. TimesSquare Capital Management LLC bought a new stake in Ariad Pharmaceuticals during the third quarter worth about $30,320,000. Redmile Group LLC bought a new stake in Ariad Pharmaceuticals during the third quarter worth about $29,276,000. Finally, CQS Cayman LP bought a new stake in Ariad Pharmaceuticals during the second quarter worth about $8,365,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.
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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