Concert Wealth Management Inc. lowered its position in shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 40,686 shares of the pharmaceutical company’s stock after selling 673 shares during the period. Concert Wealth Management Inc.’s holdings in Ariad Pharmaceuticals were worth $297,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Consonance Capital Management LP purchased a new stake in Ariad Pharmaceuticals during the first quarter worth about $35,629,000. Old Mutual Global Investors UK Ltd. boosted its stake in Ariad Pharmaceuticals by 24.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,518,921 shares of the pharmaceutical company’s stock worth $11,224,000 after buying an additional 295,559 shares during the last quarter. Price Michael F boosted its stake in Ariad Pharmaceuticals by 31.1% in the first quarter. Price Michael F now owns 1,075,000 shares of the pharmaceutical company’s stock worth $6,869,000 after buying an additional 255,000 shares during the last quarter. Bellevue Group AG purchased a new stake in Ariad Pharmaceuticals during the first quarter worth about $3,163,000. Finally, Candriam Luxembourg S.C.A. boosted its stake in Ariad Pharmaceuticals by 52.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 260,000 shares of the pharmaceutical company’s stock worth $1,921,000 after buying an additional 90,000 shares during the last quarter. 71.99% of the stock is owned by hedge funds and other institutional investors.
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded down 14.77% during mid-day trading on Friday, hitting $11.14. 19,763,442 shares of the company were exchanged. The company’s market capitalization is $2.15 billion. Ariad Pharmaceuticals Inc. has a 12-month low of $4.37 and a 12-month high of $14.34. The company’s 50-day moving average is $12.15 and its 200 day moving average is $9.00.
Ariad Pharmaceuticals (NASDAQ:ARIA) last issued its earnings results 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 company earned $65.30 million during the quarter, compared to analyst estimates of $60.64 million. During the same quarter in the prior year, the business earned ($0.28) EPS. The business’s quarterly revenue was up 133.0% on a year-over-year basis. Analysts expect that Ariad Pharmaceuticals Inc. will post ($0.09) EPS for the current year.
ARIA has been the topic of several recent research reports. Zacks Investment Research upgraded Ariad Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Wednesday, September 28th. Leerink Swann restated an “outperform” rating and set a $20.00 target price on shares of Ariad Pharmaceuticals in a report on Wednesday. Jefferies Group restated a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a report on Friday, July 29th. Cowen and Company restated an “outperform” rating and set a $10.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, June 21st. Finally, SunTrust Banks Inc. assumed coverage on Ariad Pharmaceuticals in a report on Tuesday, October 4th. They set a “buy” rating on the stock. One equities 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 issued a strong buy rating to the company. Ariad Pharmaceuticals presently has an average rating of “Buy” and an average price target of $11.22.
In other Ariad Pharmaceuticals news, insider Timothy P. Clackson sold 18,286 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,012,966.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel M. Bollag sold 47,384 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $13.46, for a total transaction of $637,788.64. Following the completion of the sale, the vice president now owns 129,404 shares in the company, valued at approximately $1,741,777.84. The disclosure for this sale can be found here. 8.20% of the stock is currently 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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