Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) insider Timothy P. Clackson sold 20,000 shares of the business’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 completion of the transaction, the insider now owns 208,772 shares in the company, valued at $2,803,807.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) opened at 13.52 on Friday. The firm’s 50-day moving average price is $10.83 and its 200 day moving average price is $8.29. Ariad Pharmaceuticals Inc. has a 52 week low of $4.37 and a 52 week high of $13.94. The company’s market capitalization is $2.61 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.70. The company 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 prior year, the business posted ($0.28) earnings per share. Equities analysts predict that Ariad Pharmaceuticals Inc. will post ($0.09) EPS for the current year.
Several large investors have recently bought and sold shares of the company. Consonance Capital Management LP purchased a new stake in Ariad Pharmaceuticals during the first quarter valued at about $35,629,000. FMR LLC raised its stake in 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. Norges Bank purchased a new stake in Ariad Pharmaceuticals during the fourth quarter valued at about $10,412,000. CQS Cayman LP purchased a new stake in Ariad Pharmaceuticals during the second quarter valued at about $8,365,000. Finally, Tekla Capital Management LLC purchased a new stake in Ariad Pharmaceuticals during the second quarter valued at about $3,710,000. 71.99% of the stock is currently owned by institutional investors and hedge funds.
ARIA has been the topic of several research analyst reports. Cowen and Company restated a “buy” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. JMP Securities restated a “buy” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. Jefferies Group restated a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Ariad Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $9.19.
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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