Todays Report: Today, Ariad Pharmaceuticals Inc. (ARIA) Receives Outperform Rating from Cowen and Company

Today, Ariad Pharmaceuticals Inc. (ARIA) Receives Outperform Rating from Cowen and Company

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)‘s stock had its “outperform” rating restated by equities researchers at Cowen and Company in a research report issued on Tuesday. They presently have a $16.00 price target on the pharmaceutical company’s stock. Cowen and Company’s price objective points to a potential upside of 13.07% from the company’s current price.

Other research analysts have also issued reports about the company. William Blair reissued an “outperform” rating and set a $15.00 price target (up from $12.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. Barclays PLC upped their price target on Ariad Pharmaceuticals from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Jefferies Group reissued a “buy” rating and set a $11.00 price target (down from $13.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. Leerink Swann began coverage on Ariad Pharmaceuticals in a research report on Monday, September 26th. They set an “outperform” rating on the stock. Finally, Deutsche Bank AG began coverage on Ariad Pharmaceuticals in a research report on Thursday, November 3rd. They set a “hold” rating and a $9.50 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $11.79.

Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 14.15 on Tuesday. The firm’s market capitalization is $2.75 billion. The company’s 50-day moving average price is $11.41 and its 200 day moving average price is $9.92. Ariad Pharmaceuticals has a 52-week low of $4.37 and a 52-week high of $14.34.

Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.07. The company had revenue of $34.30 million for the quarter, compared to analysts’ expectations of $42.93 million. During the same period in the prior year, the company earned ($0.29) earnings per share. The company’s revenue for the quarter was up 58.3% on a year-over-year basis. Equities research analysts predict that Ariad Pharmaceuticals will post ($0.04) earnings per share for the current year.

In other news, insider Timothy P. Clackson sold 19,638 shares of the stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $9.56, for a total transaction of $187,739.28. Following the transaction, the insider now owns 197,884 shares of the company’s stock, valued at approximately $1,891,771.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy P. Clackson sold 20,000 shares of the stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $13.43, for a total value of $268,600.00. Following the transaction, the insider now directly owns 208,772 shares in the company, valued at approximately $2,803,807.96. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Group LTD raised its position in shares of Ariad Pharmaceuticals by 12.5% in the first quarter. BlackRock Group LTD now owns 171,602 shares of the pharmaceutical company’s stock worth $1,097,000 after buying an additional 19,123 shares in the last quarter. Price Michael F raised its position in shares of 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 in the last quarter. Bellevue Group AG bought a new position in shares of Ariad Pharmaceuticals during the first quarter worth approximately $3,163,000. Steinberg Global Asset Management raised its position in shares of Ariad Pharmaceuticals by 12.7% in the first quarter. Steinberg Global Asset Management now owns 47,100 shares of the pharmaceutical company’s stock worth $301,000 after buying an additional 5,300 shares in the last quarter. Finally, Creative Planning raised its position in shares of Ariad Pharmaceuticals by 18.4% in the second quarter. Creative Planning now owns 29,000 shares of the pharmaceutical company’s stock worth $214,000 after buying an additional 4,500 shares in the last quarter. 71.57% of the stock is currently owned by institutional investors and hedge funds.

About Ariad Pharmaceuticals

Related posts

Leave a Comment