Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) VP Daniel M. Bollag sold 47,384 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $13.46, for a total transaction of $637,788.64. Following the completion of the sale, the vice president now directly owns 129,404 shares of the company’s stock, valued at approximately $1,741,777.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) opened at 13.40 on Monday. Ariad Pharmaceuticals Inc. has a 12 month low of $4.37 and a 12 month high of $14.26. The firm has a 50-day moving average of $11.80 and a 200 day moving average of $8.82. The firm’s market capitalization is $2.58 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its 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 business earned $65.30 million during the quarter, compared to analysts’ expectations of $60.64 million. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) EPS. Equities research analysts forecast that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current year.
A number of analysts have recently weighed in on the stock. Barclays PLC upped their price target on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Zacks Investment Research downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Cowen and Company reaffirmed an “outperform” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Leerink Swann assumed coverage on shares of Ariad Pharmaceuticals in a report on Monday, September 26th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Ariad Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $10.13.
Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. increased its position in Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 866 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ariad Pharmaceuticals during the second quarter valued at $107,000. Seven Eight Capital LLC acquired a new position in Ariad Pharmaceuticals during the second quarter valued at $117,000. Fiera Capital Corp acquired a new position in Ariad Pharmaceuticals during the second quarter valued at $118,000. Finally, Rehmann Capital Advisory Group acquired a new position in Ariad Pharmaceuticals during the first quarter valued at $128,000. Hedge funds and other institutional investors 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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