PNC Financial Services Group Inc. cut its stake in shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 22.3% during the second quarter, Holdings Channel reports. The fund owned 33,787 shares of the pharmaceutical company’s stock after selling 9,679 shares during the period. PNC Financial Services Group Inc.’s holdings in Ariad Pharmaceuticals were worth $249,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Consonance Capital Management LP acquired a new stake in Ariad Pharmaceuticals during the first quarter valued at about $35,629,000. Norges Bank acquired a new stake in Ariad Pharmaceuticals during the fourth quarter valued at about $10,412,000. Bellevue Group AG acquired a new stake in Ariad Pharmaceuticals during the first quarter valued at about $3,163,000. Granite Point Capital Management L.P. acquired a new stake in Ariad Pharmaceuticals during the second quarter valued at about $3,184,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in Ariad Pharmaceuticals by 24.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,518,921 shares of the pharmaceutical company’s stock valued at $11,224,000 after buying an additional 295,559 shares during the last quarter. 71.99% of the stock is owned by institutional investors and hedge funds.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded down 0.15% on Friday, hitting $13.69. 9,291,018 shares of the stock traded hands. Ariad Pharmaceuticals Inc. has a 52 week low of $4.37 and a 52 week high of $14.26. The firm’s 50 day moving average is $11.38 and its 200 day moving average is $8.56. The stock’s market cap is $2.64 billion.
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 the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The company had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. During the same period in the prior year, the company earned ($0.28) EPS. The firm’s revenue was up 133.0% on a year-over-year basis. Equities analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current year.
Several equities research analysts recently issued reports on ARIA shares. Cowen and Company reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Zacks Investment Research raised shares of Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Wednesday. Jefferies Group reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Ariad Pharmaceuticals in a research note on Wednesday, June 22nd. Leerink Swann initiated coverage on shares of Ariad Pharmaceuticals in a report on Monday, September 26th. They issued an “outperform” rating on the stock. Finally, JMP Securities reiterated a “buy” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Ariad Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $10.13.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 19,436 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $10.47, for a total value of $203,494.92. Following the completion of the sale, the insider now owns 228,772 shares in the company, valued at $2,395,242.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy P. Clackson sold 18,286 shares of the stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $8.11, for a total transaction of $148,299.46. Following the completion of the sale, 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. Corporate insiders own 8.20% of the company’s stock.
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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