Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Research analysts at SunTrust Banks raised their FY2018 earnings estimates for Ariad Pharmaceuticals in a report released on Thursday. SunTrust Banks analyst Y. Suneja now anticipates that the firm will post earnings of $0.65 per share for the year, up from their previous forecast of $0.58. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ariad Pharmaceuticals’ FY2020 earnings at $2.10 EPS.
ARIA has been the subject of several other reports. 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. Zacks Investment Research downgraded shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, July 8th. Leerink Swann assumed coverage on shares of Ariad Pharmaceuticals in a report on Monday, September 26th. They issued an “outperform” rating for the company. Cowen and Company reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. 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 given a strong buy rating to the company’s stock. Ariad Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $11.22.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 14.77% on Friday, reaching $11.14. 19,778,649 shares of the company’s stock traded hands. The company’s 50-day moving average price is $12.18 and its 200 day moving average price is $9.04. The firm’s market cap is $2.15 billion. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34.
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, topping analysts’ consensus estimates of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The company’s revenue was up 133.0% on a year-over-year basis.
Several institutional investors have recently modified their holdings of ARIA. Ameritas Investment Partners Inc. raised 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 period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $107,000. BNP Paribas Arbitrage SA raised its position in Ariad Pharmaceuticals by 110.4% in the third quarter. BNP Paribas Arbitrage SA now owns 14,629 shares of the pharmaceutical company’s stock valued at $200,000 after buying an additional 7,675 shares during the period. Seven Eight Capital LLC acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $117,000. Finally, Fiera Capital Corp acquired a new position in Ariad Pharmaceuticals during the second quarter valued at approximately $118,000. Hedge funds and other institutional investors own 71.99% of the company’s stock.
In related news, VP Daniel M. Bollag sold 47,384 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 129,404 shares in the company, valued at $1,741,777.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy P. Clackson sold 18,286 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $2,012,966.88. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
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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