Candriam Luxembourg S.C.A. boosted its stake in shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 52.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 260,000 shares of the pharmaceutical company’s stock after buying an additional 90,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Ariad Pharmaceuticals were worth $1,921,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rehmann Capital Advisory Group purchased a new position in shares of Ariad Pharmaceuticals during the first quarter valued at $128,000. Fox Run Management L.L.C. purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $169,000. Creative Planning boosted its position in shares of Ariad Pharmaceuticals by 18.4% in the second quarter. Creative Planning now owns 29,000 shares of the pharmaceutical company’s stock valued at $214,000 after buying an additional 4,500 shares in the last quarter. TIAA CREF Trust Co. FSB MO purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $222,000. Finally, Smith Asset Management Group LP purchased a new position in shares of Ariad Pharmaceuticals during the second quarter valued at $268,000. 71.99% of the stock is owned by institutional investors and hedge funds.
Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded down 0.73% during midday trading on Monday, reaching $13.59. The company had a trading volume of 3,888,395 shares. Ariad Pharmaceuticals Inc. has a 52-week low of $4.37 and a 52-week high of $14.26. The firm’s market cap is $2.62 billion. The company’s 50-day moving average is $11.46 and its 200-day moving average is $8.65.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The business earned $65.30 million during the quarter, compared to the consensus estimate of $60.64 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 133.0% compared to the same quarter last year. Equities research analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) EPS for the current fiscal year.
Several research analysts recently weighed in on ARIA shares. JMP Securities reaffirmed a “buy” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 6th. Cowen and Company reiterated a “buy” rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research report on Monday, June 6th. Jefferies Group reiterated a “buy” rating and issued a $13.00 price target on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Tuesday, July 5th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently 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 Ariad Pharmaceuticals stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $8.11, for a total value of $148,299.46. Following the completion of the transaction, the insider now owns 248,208 shares in the company, valued at approximately $2,012,966.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy P. Clackson sold 25,000 shares of Ariad Pharmaceuticals stock in a transaction on Friday, August 12th. The shares were sold at an average price of $10.50, for a total value of $262,500.00. Following the completion of the transaction, the insider now owns 273,208 shares of the company’s stock, valued at approximately $2,868,684. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.
Ariad Pharmaceuticals Company Profile
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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