Leerink Swann reiterated their outperform rating on shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) in a research note released on Wednesday. They currently have a $20.00 price objective on the pharmaceutical company’s stock.
A number of other analysts have also weighed in on ARIA. Cowen and Company reissued an outperform rating and set a $10.00 price objective on shares of Ariad Pharmaceuticals in a research note on Tuesday, June 21st. Royal Bank Of Canada reissued a hold rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 20th. Jefferies Group reissued a buy rating and set a $13.00 price objective on shares of Ariad Pharmaceuticals in a research note on Wednesday, June 22nd. Zacks Investment Research raised Ariad Pharmaceuticals from a hold rating to a buy rating and set a $8.50 price objective for the company in a research note on Tuesday, July 5th. Finally, Barclays PLC increased their price objective on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an underweight rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $11.22.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 1.914% during mid-day trading on Wednesday, reaching $13.045. 2,591,806 shares of the company’s stock were exchanged. The firm’s market capitalization is $2.51 billion. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The stock has a 50-day moving average of $12.07 and a 200 day moving average of $8.97.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.70. The company had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $60.64 million. The business’s revenue for the quarter was up 133.0% compared to the same quarter last year. During the same period last year, the company posted ($0.28) EPS. On average, analysts forecast that Ariad Pharmaceuticals will post ($0.09) EPS for the current fiscal year.
In other Ariad Pharmaceuticals news, VP Daniel M. Bollag sold 47,384 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $13.46, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timothy P. Clackson sold 8,750 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total value of $122,325.00. Following the completion of the transaction, the insider now owns 226,272 shares of the company’s stock, valued at approximately $3,163,282.56. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Ariad Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,724,399 shares of the pharmaceutical company’s stock valued at $94,033,000 after buying an additional 259,003 shares during the last quarter. FMR LLC increased its position in shares of Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock valued at $45,300,000 after buying an additional 2,589,810 shares during the last quarter. State Street Corp increased its position in shares of Ariad Pharmaceuticals by 1.8% in the second quarter. State Street Corp now owns 5,795,195 shares of the pharmaceutical company’s stock valued at $42,831,000 after buying an additional 100,436 shares during the last quarter. Consonance Capital Management LP bought a new position in shares of Ariad Pharmaceuticals during the first quarter valued at $35,629,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Ariad Pharmaceuticals by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,546,501 shares of the pharmaceutical company’s stock valued at $33,599,000 after buying an additional 41,983 shares during the last quarter. Institutional investors and hedge funds own 71.99% of the company’s stock.
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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