Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) Trading 5.2% Higher on Insider Buying Activity
Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ)’s share price shot up 5.2% during mid-day trading on Friday following insider buying activity. The company traded as high as $1.21 and last traded at $1.21, with a volume of 575,728 shares traded. The stock had previously closed at $1.15.
Specifically, Director Arthur S. Kirsch acquired 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was acquired at an average price of $1.17 per share, with a total value of $58,500.00. Following the transaction, the director now owns 206,609 shares of the company’s stock, valued at $241,732.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew I. Koven sold 161,906 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $1.28, for a total value of $207,239.68. Following the transaction, the insider now directly owns 1,363,695 shares of the company’s stock, valued at approximately $1,745,529.60. The disclosure for this sale can be found here. Insiders have sold a total of 558,311 shares of company stock valued at $777,214 in the last three months. 6.70% of the stock is owned by insiders.
Several research firms recently weighed in on ARLZ. Bloom Burton raised Aralez Pharmaceuticals from an “accumulate” rating to a “buy” rating in a research report on Monday, April 10th. ValuEngine cut Aralez Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.
The stock’s 50-day moving average is $1.33 and its 200 day moving average is $2.82. The stock’s market cap is $100.09 million.
Aralez Pharmaceuticals (NASDAQ:ARLZ) last issued its quarterly earnings data on Tuesday, May 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. The company had revenue of $26 million for the quarter, compared to analyst estimates of $20.23 million. Aralez Pharmaceuticals had a negative return on equity of 66.74% and a negative net margin of 133.92%. The company’s revenue was up 221.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.73) earnings per share. Equities research analysts anticipate that Aralez Pharmaceuticals Inc. will post ($1.56) EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the company. Broadfin Capital LLC increased its stake in shares of Aralez Pharmaceuticals by 8.3% in the first quarter. Broadfin Capital LLC now owns 5,191,590 shares of the company’s stock valued at $11,110,000 after buying an additional 400,000 shares during the period. Elk Creek Partners LLC increased its stake in shares of Aralez Pharmaceuticals by 13.3% in the first quarter. Elk Creek Partners LLC now owns 2,488,475 shares of the company’s stock valued at $5,325,000 after buying an additional 292,420 shares during the period. Norges Bank bought a new stake in shares of Aralez Pharmaceuticals during the fourth quarter valued at about $665,000. KCG Holdings Inc. bought a new stake in shares of Aralez Pharmaceuticals during the first quarter valued at about $310,000. Finally, Wsfs Capital Management LLC bought a new stake in shares of Aralez Pharmaceuticals during the fourth quarter valued at about $474,000. Hedge funds and other institutional investors own 35.64% of the company’s stock.
About Aralez Pharmaceuticals
Aralez Pharmaceuticals Inc is a Canada-based specialty pharmaceutical company. The Company focuses on acquiring, developing and commercializing products in cardiovascular, pain and other areas. The Company’s products include Fibricor, Cambia, Fiorinal, Fiorinal C, Soriatane, Bezalip SR, NeoVisc, Uracyst, Durela, Proferrin, Resultz and Collatamp G.
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