Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Equities research analysts at Leerink Swann issued their Q3 2016 earnings per share estimates for shares of Ariad Pharmaceuticals in a research note issued on Monday. Leerink Swann analyst M. Schmidt anticipates that the brokerage will earn ($0.20) per share for the quarter. Leerink Swann currently has a “Outperform” rating on the stock. Leerink Swann also issued estimates for Ariad Pharmaceuticals’ Q4 2016 earnings at ($0.18) EPS, FY2017 earnings at ($0.50) EPS and FY2018 earnings at $0.08 EPS.
A number of other brokerages have also recently weighed in on ARIA. Cowen and Company restated an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Jefferies Group reaffirmed a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Barclays PLC boosted their target price on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. JMP Securities reaffirmed a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $9.19.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.95 on Tuesday. The firm’s market capitalization is $2.69 billion. The company’s 50-day moving average is $11.02 and its 200-day moving average is $8.42. Ariad Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $14.25.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to analyst estimates of $60.64 million. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.28) earnings per share.
Large investors have recently bought and sold shares of the company. Steinberg Global Asset Management raised its stake 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 valued at $301,000 after buying an additional 5,300 shares during the last quarter. TIAA CREF Trust Co. FSB MO purchased a new stake in Ariad Pharmaceuticals during the second quarter valued at $222,000. Price Michael F raised its stake in Ariad Pharmaceuticals by 31.1% in the first quarter. Price Michael F now owns 1,075,000 shares of the pharmaceutical company’s stock valued at $6,869,000 after buying an additional 255,000 shares during the last quarter. Norges Bank purchased a new stake in Ariad Pharmaceuticals during the fourth quarter valued at $10,412,000. Finally, Consonance Capital Management LP purchased a new stake in Ariad Pharmaceuticals during the first quarter valued at $35,629,000. 71.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Timothy P. Clackson sold 20,000 shares of the company’s stock in a transaction dated 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 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 SEC, which can be accessed through the SEC website. Also, insider Timothy P. Clackson sold 18,286 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $8.11, for a total transaction of $148,299.46. Following the completion of the sale, the insider now directly owns 248,208 shares in the company, valued at approximately $2,012,966.88. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
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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