Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) – Equities research analysts at Leerink Swann lowered their FY2018 EPS estimates for Ariad Pharmaceuticals in a report released on Tuesday. Leerink Swann analyst M. Schmidt now expects that the firm will post earnings of $0.00 per share for the year, down from their prior forecast of $0.08. Leerink Swann has a “Market Perform” rating on the stock.
A number of other analysts have also recently commented on ARIA. JMP Securities restated a “market perform” rating on shares of Ariad Pharmaceuticals in a research report on Thursday, December 1st. SunTrust Banks, Inc. cut shares of Ariad Pharmaceuticals from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Wednesday, January 11th. Barclays PLC upgraded Ariad Pharmaceuticals from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $9.00 to $24.00 in a report on Tuesday, January 10th. Cowen and Company reiterated a “buy” rating and set a $16.00 target price on shares of Ariad Pharmaceuticals in a report on Tuesday, January 10th. Finally, William Blair reiterated an “outperform” rating and set a $15.00 target price on shares of Ariad Pharmaceuticals in a report on Saturday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $16.44.
Ariad Pharmaceuticals (NASDAQ:ARIA) traded up 0.233% during mid-day trading on Friday, reaching $23.695. The company had a trading volume of 7,504,262 shares. The firm’s 50-day moving average price is $16.61 and its 200-day moving average price is $12.33. The stock’s market cap is $4.60 billion. Ariad Pharmaceuticals has a 12 month low of $4.37 and a 12 month high of $23.81.
Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The firm had revenue of $34.30 million for the quarter, compared to analyst estimates of $42.93 million. Ariad Pharmaceuticals’s revenue for the quarter was up 58.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) EPS.
In other Ariad Pharmaceuticals news, VP Daniel M. Bollag sold 32,000 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $23.78, for a total transaction of $760,960.00. Following the completion of the sale, the vice president now directly owns 161,404 shares in the company, valued at $3,838,187.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 8.20% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its stake in shares of Ariad Pharmaceuticals by 3.0% in the third quarter. BlackRock Fund Advisors now owns 8,070,403 shares of the pharmaceutical company’s stock valued at $110,484,000 after buying an additional 238,384 shares during the period. Wells Fargo & Company MN increased its stake in shares of Ariad Pharmaceuticals by 7.6% in the third quarter. Wells Fargo & Company MN now owns 116,427 shares of the pharmaceutical company’s stock valued at $1,594,000 after buying an additional 8,205 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Ariad Pharmaceuticals by 284.2% in the third quarter. Canada Pension Plan Investment Board now owns 80,300 shares of the pharmaceutical company’s stock valued at $1,099,000 after buying an additional 59,400 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Ariad Pharmaceuticals during the third quarter valued at about $30,320,000. Finally, BlackRock Advisors LLC increased its stake in shares of Ariad Pharmaceuticals by 16.1% in the third quarter. BlackRock Advisors LLC now owns 208,907 shares of the pharmaceutical company’s stock valued at $2,860,000 after buying an additional 29,045 shares during the period. Hedge funds and other institutional investors own 85.17% of the company’s stock.
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).