SunTrust Banks Inc. began coverage on shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) in a research note issued to investors on Tuesday morning. The firm issued a buy rating on the pharmaceutical company’s stock.
Other analysts have also recently issued research reports about the stock. Barclays PLC increased their price target on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an underweight rating in a research note on Friday, July 29th. Cowen and Company reissued an outperform rating and issued a $10.00 price target on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Zacks Investment Research cut shares of Ariad Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, July 8th. Leerink Swann assumed coverage on shares of Ariad Pharmaceuticals in a research note on Monday, September 26th. They issued an outperform rating for the company. Finally, Royal Bank Of Canada reaffirmed 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 assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Ariad Pharmaceuticals currently has a consensus rating of Buy and an average price target of $10.13.
Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.35 on Tuesday. The stock’s market cap is $2.57 billion. The firm’s 50 day moving average price is $11.72 and its 200 day moving average price is $8.77. Ariad Pharmaceuticals has a 12 month low of $4.37 and a 12 month high of $14.26.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.70. The firm earned $65.30 million during the quarter, compared to analysts’ expectations of $60.64 million. During the same period last year, the company earned ($0.28) EPS. The business’s quarterly revenue was up 133.0% on a year-over-year basis. On average, equities research analysts predict that Ariad Pharmaceuticals will post ($0.09) EPS for the current fiscal year.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 8,750 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $13.98, for a total transaction of $122,325.00. Following the sale, the insider now directly owns 226,272 shares in the company, valued at approximately $3,163,282.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Daniel M. Bollag sold 47,384 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $13.46, for a total transaction of $637,788.64. Following the sale, the vice president now owns 129,404 shares in the company, valued at $1,741,777.84. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake 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 worth $102,000 after buying an additional 866 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Ariad Pharmaceuticals during the second quarter worth about $107,000. BNP Paribas Arbitrage SA raised its stake 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 worth $200,000 after buying an additional 7,675 shares during the period. Seven Eight Capital LLC acquired a new stake in Ariad Pharmaceuticals during the second quarter worth about $117,000. Finally, Fiera Capital Corp acquired a new stake in Ariad Pharmaceuticals during the second quarter worth about $118,000. 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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