BNP Paribas Arbitrage SA raised its position in Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 110.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 14,629 shares of the pharmaceutical company’s stock after buying an additional 7,675 shares during the period. BNP Paribas Arbitrage SA’s holdings in Ariad Pharmaceuticals were worth $200,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Consonance Capital Management LP acquired a new position in Ariad Pharmaceuticals during the first quarter worth approximately $35,629,000. FMR LLC boosted its position in Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock worth $45,300,000 after buying an additional 2,589,810 shares in the last quarter. Norges Bank acquired a new position in Ariad Pharmaceuticals during the fourth quarter worth approximately $10,412,000. CQS Cayman LP acquired a new position in Ariad Pharmaceuticals during the second quarter worth approximately $8,365,000. Finally, Tekla Capital Management LLC acquired a new position in Ariad Pharmaceuticals during the second quarter worth approximately $3,710,000. 71.99% of the stock is currently owned by institutional investors.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) opened at 13.87 on Thursday. The company’s market cap is $2.67 billion. The stock’s 50 day moving average price is $11.64 and its 200 day moving average price is $8.74. Ariad Pharmaceuticals Inc. has a 52-week low of $4.37 and a 52-week high of $14.26.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 133.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.28) EPS. Analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current year.
A number of research analysts recently commented on ARIA shares. SunTrust Banks Inc. started coverage on Ariad Pharmaceuticals in a report on Tuesday. They issued a “buy” rating on the stock. Cowen and Company reissued an “outperform” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Zacks Investment Research raised Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Wednesday, September 28th. Jefferies Group reissued a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. Finally, Leerink Swann initiated coverage on Ariad Pharmaceuticals in a research note on Monday, September 26th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.13.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 18,286 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $8.11, for a total transaction of $148,299.46. Following the transaction, the insider now owns 248,208 shares in the company, valued at $2,012,966.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel M. Bollag sold 47,384 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 129,404 shares in the company, valued at approximately $1,741,777.84. The disclosure for this sale can be found here. Company insiders own 8.20% 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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