Trade Report: Today, California Public Employees Retirement System reduces its investment in Ariad Pharmaceuticals Inc. (ARIA)

Today, California Public Employees Retirement System reduces its investment in Ariad Pharmaceuticals Inc. (ARIA)

California Public Employees Retirement System reduced its stake in Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) by 6.4% during the third quarter, Holdings Channel reports. The firm owned 330,200 shares of the pharmaceutical company’s stock after selling 22,700 shares during the period. California Public Employees Retirement System owned about 0.17% of Ariad Pharmaceuticals worth $4,520,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in Ariad Pharmaceuticals by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,787 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 866 shares in the last quarter. Teacher Retirement System of Texas raised its position in Ariad Pharmaceuticals by 4.7% in the second quarter. Teacher Retirement System of Texas now owns 23,057 shares of the pharmaceutical company’s stock valued at $170,000 after buying an additional 1,027 shares in the last quarter. Amalgamated Bank raised its position in Ariad Pharmaceuticals by 6.5% in the second quarter. Amalgamated Bank now owns 18,729 shares of the pharmaceutical company’s stock valued at $190,000 after buying an additional 1,135 shares in the last quarter. Family Management Corp raised its position in Ariad Pharmaceuticals by 0.7% in the second quarter. Family Management Corp now owns 179,515 shares of the pharmaceutical company’s stock valued at $1,327,000 after buying an additional 1,250 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Ariad Pharmaceuticals by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 137,570 shares of the pharmaceutical company’s stock valued at $1,017,000 after buying an additional 1,270 shares in the last quarter. 71.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) traded up 2.61% during trading on Friday, reaching $14.15. 2,542,010 shares of the company were exchanged. Ariad Pharmaceuticals Inc. has a 1-year low of $4.37 and a 1-year high of $14.34. The firm has a 50-day moving average price of $11.41 and a 200-day moving average price of $9.92. The stock’s market capitalization is $2.75 billion.

Ariad Pharmaceuticals (NASDAQ:ARIA) last released its quarterly earnings data on Monday, November 7th. The pharmaceutical company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. The business earned $34.30 million during the quarter, compared to analyst estimates of $42.93 million. The firm’s revenue was up 58.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) EPS. Equities research analysts predict that Ariad Pharmaceuticals Inc. will post ($0.04) earnings per share for the current fiscal year.

ARIA has been the subject of several recent analyst reports. SunTrust Banks Inc. initiated coverage on Ariad Pharmaceuticals in a research report on Tuesday, October 4th. They set a “buy” rating for the company. Jefferies Group restated a “buy” rating and set a $13.00 target price on shares of Ariad Pharmaceuticals in a research report on Friday, July 29th. Deutsche Bank AG initiated coverage on Ariad Pharmaceuticals in a research report on Thursday, November 3rd. They set a “hold” rating and a $9.50 target price for the company. JMP Securities lowered Ariad Pharmaceuticals from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $4.37 to $9.37 in a research report on Tuesday, October 25th. They noted that the move was a valuation call. Finally, William Blair restated an “outperform” rating and set a $15.00 target price (up previously from $12.00) on shares of Ariad Pharmaceuticals in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Ariad Pharmaceuticals currently has a consensus rating of “Hold” and an average target price of $11.79.

In other news, insider Timothy P. Clackson sold 59,369 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $11.73, for a total transaction of $696,398.37. Following the completion of the sale, the insider now owns 288,141 shares in the company, valued at approximately $3,379,893.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy P. Clackson sold 8,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $13.98, for a total transaction of $122,325.00. Following the sale, the insider now owns 226,272 shares of the company’s stock, valued at approximately $3,163,282.56. 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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