Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) insider Timothy P. Clackson sold 8,750 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 226,272 shares in the company, valued at $3,163,282.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded up 1.36% during trading on Wednesday, hitting $14.14. The stock had a trading volume of 5,988,867 shares. The stock’s market capitalization is $2.72 billion. Ariad Pharmaceuticals Inc. has a 52 week low of $4.37 and a 52 week high of $14.26. The company has a 50-day moving average of $11.17 and a 200-day moving average of $8.47.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.70. The business had revenue of $65.30 million for the quarter, compared to analysts’ expectations of $60.64 million. The business’s revenue was up 133.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) earnings per share. On average, equities analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. Barclays PLC boosted their target price on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Cowen and Company reissued a “buy” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. Zacks Investment Research raised Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Tuesday, July 5th. Jefferies Group restated a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research note on Friday, July 29th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ariad Pharmaceuticals has an average rating of “Buy” and an average target price of $10.13.
Several hedge funds have recently modified their holdings of ARIA. Ameritas Investment Partners Inc. increased its stake in shares of Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 866 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth approximately $107,000. Seven Eight Capital LLC acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth approximately $117,000. Fiera Capital Corp acquired a new stake in shares of Ariad Pharmaceuticals during the second quarter worth approximately $118,000. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Ariad Pharmaceuticals during the first quarter worth approximately $128,000. 71.99% of the stock is owned by institutional investors.
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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