Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) – Investment analysts at SunTrust Banks boosted their FY2018 earnings estimates for Ariad Pharmaceuticals in a research note issued on Thursday. SunTrust Banks analyst Y. Suneja now forecasts that the brokerage will post earnings per share of $0.65 for the year, up from their prior estimate of $0.58. SunTrust Banks has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ariad Pharmaceuticals’ FY2020 earnings at $2.10 EPS.
Other research analysts also recently issued research reports about the company. Barclays PLC boosted 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. Zacks Investment Research downgraded Ariad Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Cowen and Company reissued an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Sunday, July 31st. Leerink Swann began coverage on Ariad Pharmaceuticals in a research note on Monday, September 26th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 20th. One 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’s stock. The company has a consensus rating of “Buy” and an average target price of $11.22.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded down 14.77% on Friday, reaching $11.14. 19,757,787 shares of the company traded hands. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The stock’s market capitalization is $2.15 billion. The firm has a 50 day moving average of $12.15 and a 200-day moving average of $9.00.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.70. The firm had revenue of $65.30 million for the quarter, compared to the consensus estimate of $60.64 million. During the same period in the previous year, the business earned ($0.28) EPS. The firm’s revenue was up 133.0% compared to the same quarter last year.
Several institutional investors have recently bought and sold shares of the company. Consonance Capital Management LP acquired a new position in Ariad Pharmaceuticals during the first quarter worth about $35,629,000. FMR LLC boosted its position in 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 during the last quarter. CQS Cayman LP acquired a new position in Ariad Pharmaceuticals during the second quarter worth about $8,365,000. Tekla Capital Management LLC acquired a new position in Ariad Pharmaceuticals during the second quarter worth about $3,710,000. Finally, Bellevue Group AG acquired a new position in Ariad Pharmaceuticals during the first quarter worth about $3,163,000. Hedge funds and other institutional investors own 71.99% of the company’s stock.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 18,286 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $8.11, for a total transaction of $148,299.46. Following the transaction, the insider now directly owns 248,208 shares in the company, valued at approximately $2,012,966.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Timothy P. Clackson sold 19,436 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $10.47, for a total value of $203,494.92. Following the transaction, the insider now owns 228,772 shares in the company, valued at $2,395,242.84. The disclosure for this sale can be found here. 8.20% of the stock is owned by corporate 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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