Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) VP Daniel M. Bollag sold 47,384 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $13.46, for a total value of $637,788.64. Following the completion of the transaction, the vice president now directly 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 accessible through the SEC website.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) opened at 14.19 on Tuesday. The company has a 50-day moving average price of $11.92 and a 200 day moving average price of $8.91. Ariad Pharmaceuticals Inc. has a 52-week low of $4.37 and a 52-week high of $14.34. The stock’s market cap is $2.73 billion.
Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its quarterly earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.70. The business earned $65.30 million during the quarter, compared to analysts’ expectations of $60.64 million. During the same period in the previous year, the company posted ($0.28) earnings per share. Ariad Pharmaceuticals’s revenue for the quarter was up 133.0% compared to the same quarter last year. On average, analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Ariad Pharmaceuticals during the fourth quarter valued at approximately $10,412,000. Rehmann Capital Advisory Group acquired a new stake in Ariad Pharmaceuticals during the first quarter valued at approximately $128,000. BlackRock Group LTD raised its stake in Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock valued at $1,097,000 after buying an additional 19,123 shares during the last quarter. Spark Investment Management LLC raised its stake in Ariad Pharmaceuticals by 40.6% in the first quarter. Spark Investment Management LLC now owns 126,700 shares of the pharmaceutical company’s stock valued at $809,000 after buying an additional 36,600 shares during the last quarter. Finally, Consonance Capital Management LP acquired a new stake in Ariad Pharmaceuticals during the first quarter valued at approximately $35,629,000. 71.99% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on ARIA shares. SunTrust Banks Inc. started coverage on Ariad Pharmaceuticals in a report on Tuesday, October 4th. They set a “buy” rating on the stock. Cowen and Company reissued an “outperform” rating and set a $10.00 price target on shares of Ariad Pharmaceuticals in a report on Sunday, July 31st. Zacks Investment Research raised Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Wednesday, September 28th. Jefferies Group reissued a “buy” rating and set a $13.00 price target on shares of Ariad Pharmaceuticals in a report on Wednesday, June 22nd. Finally, Leerink Swann started coverage on Ariad Pharmaceuticals in a report on Monday, September 26th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $10.13.
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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