Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) was down 3.8% on Thursday after an insider sold shares in the company. The stock traded as low as $13.34 and last traded at $13.34, with a volume of 6,163,125 shares traded. The stock had previously closed at $13.87.
Specifically, insider Timothy P. Clackson sold 8,750 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total transaction of $122,325.00. Following the completion of the sale, the insider now owns 226,272 shares in the company, valued at approximately $3,163,282.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $148,299.46. Following 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. Insiders own 8.20% of the company’s stock.
Several analysts have recently commented on ARIA shares. Cowen and Company reiterated an “outperform” rating and set a $10.00 price objective on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st. Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a report on Monday, June 20th. Jefferies Group restated a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a research note on Wednesday, June 22nd. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Tuesday, July 5th. Finally, Barclays PLC raised their target price on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. One equities 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 issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.13.
The company’s market cap is $2.57 billion. The firm has a 50 day moving average of $11.64 and a 200 day moving average of $8.74.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 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 analyst estimates of $60.64 million. The business’s revenue for the quarter was up 133.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.28) EPS. On average, analysts anticipate that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of ARIA. Ameritas Investment Partners Inc. increased its position in shares of Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 866 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ariad Pharmaceuticals during the second quarter worth approximately $107,000. BNP Paribas Arbitrage SA increased its position in shares of Ariad Pharmaceuticals by 110.4% in the third quarter. BNP Paribas Arbitrage SA now owns 14,629 shares of the pharmaceutical company’s stock worth $200,000 after buying an additional 7,675 shares during the last quarter. Seven Eight Capital LLC purchased a new position in shares of Ariad Pharmaceuticals during the second quarter worth approximately $117,000. Finally, Fiera Capital Corp purchased a new position in shares of Ariad Pharmaceuticals during the second quarter worth approximately $118,000. Hedge funds and other institutional investors own 71.99% 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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