SunTrust Banks Inc. began coverage on shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) in a research report issued on Tuesday. The brokerage set a “buy” rating on the pharmaceutical company’s stock.
Several other research analysts also recently commented on the stock. Cowen and Company reiterated an “outperform” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Wednesday, September 28th. Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. Leerink Swann assumed coverage on shares of Ariad Pharmaceuticals in a report on Monday, September 26th. They set an “outperform” rating on the stock. Finally, JMP Securities restated a “buy” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $10.13.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.87 on Tuesday. Ariad Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $14.26. The stock’s 50 day moving average price is $11.64 and its 200-day moving average price is $8.74. The company’s market cap is $2.67 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.70. The firm earned $65.30 million during the quarter, compared to the consensus estimate of $60.64 million. The business’s revenue was up 133.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.28) EPS. On average, equities research analysts forecast that Ariad Pharmaceuticals will post ($0.09) earnings per share for the current year.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 25,000 shares of the business’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $10.50, for a total value of $262,500.00. Following the transaction, the insider now directly owns 273,208 shares in the company, valued at $2,868,684. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Daniel M. Bollag sold 47,384 shares of the business’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 completion of the transaction, the vice president now owns 129,404 shares in the company, valued at $1,741,777.84. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Smith Asset Management Group LP purchased a new position in Ariad Pharmaceuticals during the second quarter worth approximately $268,000. Old Mutual Global Investors UK Ltd. raised its position in Ariad Pharmaceuticals by 24.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,518,921 shares of the pharmaceutical company’s stock worth $11,224,000 after buying an additional 295,559 shares during the period. TIAA CREF Trust Co. FSB MO purchased a new position in Ariad Pharmaceuticals during the second quarter worth approximately $222,000. Fox Run Management L.L.C. purchased a new position in Ariad Pharmaceuticals during the second quarter worth approximately $169,000. Finally, Creative Planning raised its position 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 during the period. Hedge funds and other institutional investors own 71.99% 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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