Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Analysts at SunTrust Banks issued their Q3 2016 EPS estimates for Ariad Pharmaceuticals in a research note issued on Tuesday. SunTrust Banks analyst Y. Suneja expects that the firm will post earnings of ($0.17) per share for the quarter. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ariad Pharmaceuticals’ Q4 2016 earnings at ($0.20) EPS, FY2016 earnings at ($0.09) EPS, Q1 2017 earnings at ($0.20) EPS, Q2 2017 earnings at ($0.20) EPS, Q3 2017 earnings at ($0.21) EPS, Q4 2017 earnings at ($0.91) EPS, FY2017 earnings at $0.48 EPS, FY2018 earnings at $0.58 EPS, FY2019 earnings at $1.15 EPS and FY2020 earnings at $2.02 EPS.
A number of other research analysts also recently commented on ARIA. Barclays PLC boosted their target price on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, July 29th. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Tuesday, July 5th. Jefferies Group restated a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a research note on Friday, July 29th. Royal Bank Of Canada restated a “hold” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 20th. Finally, Cowen and Company restated an “outperform” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Tuesday, June 21st. One research 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.13.
Shares of Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.40 on Thursday. The firm’s 50-day moving average price is $11.80 and its 200-day moving average price is $8.82. Ariad Pharmaceuticals has a 52 week low of $4.37 and a 52 week high of $14.26. The firm’s market cap is $2.58 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.70. The business had revenue of $65.30 million for the quarter, compared to analyst estimates of $60.64 million. During the same quarter last year, the business earned ($0.28) EPS. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. Consonance Capital Management LP bought a new stake in shares of Ariad Pharmaceuticals during the first quarter worth $35,629,000. FMR LLC boosted its stake in shares of Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock worth $45,300,000 after buying an additional 2,589,810 shares in the last quarter. Norges Bank bought a new stake in shares of Ariad Pharmaceuticals during the fourth quarter worth $10,412,000. CQS Cayman LP bought a new stake in shares of Ariad Pharmaceuticals during the second quarter worth $8,365,000. Finally, Tekla Capital Management LLC bought a new stake in shares of Ariad Pharmaceuticals during the second quarter worth $3,710,000. 71.99% of the stock is owned by institutional investors.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 18,286 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $8.11, for a total value of $148,299.46. Following the completion of the sale, the insider now owns 248,208 shares of the company’s stock, valued at $2,012,966.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy P. Clackson sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total value of $122,325.00. Following the completion of the sale, the insider now directly owns 226,272 shares of the company’s stock, valued at approximately $3,163,282.56. The disclosure for this sale can be found here. 8.20% of the stock is owned by company 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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