The Ariad Pharmaceuticals Inc. (ARIA) Rating Reiterated by Leerink Swann

The Ariad Pharmaceuticals Inc. (ARIA) Rating Reiterated by Leerink Swann

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA)‘s stock had its “outperform” rating reissued by stock analysts at Leerink Swann in a research report issued to clients and investors on Wednesday. They currently have a $20.00 price objective on the pharmaceutical company’s stock. Leerink Swann’s target price suggests a potential upside of 53.02% from the company’s previous close.

Several other analysts have also recently issued reports on ARIA. Cowen and Company reiterated an “outperform” rating and issued a $10.00 target price on shares of Ariad Pharmaceuticals in a research note on Tuesday, June 21st. Royal Bank Of Canada reiterated a “hold” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 20th. Jefferies Group reiterated a “buy” rating and issued a $13.00 target price on shares of Ariad Pharmaceuticals in a research note on Wednesday, June 22nd. Zacks Investment Research upgraded shares of Ariad Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Tuesday, July 5th. Finally, Barclays PLC increased their target price on shares of Ariad Pharmaceuticals from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $11.22.

Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 13.07 on Wednesday. Ariad Pharmaceuticals has a one year low of $4.37 and a one year high of $14.34. The firm’s market cap is $2.52 billion. The stock’s 50 day moving average is $12.15 and its 200-day moving average is $9.00.

Ariad Pharmaceuticals (NASDAQ:ARIA) last posted its earnings results on Thursday, July 28th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.70. The firm earned $65.30 million during the quarter, compared to analysts’ expectations of $60.64 million. During the same quarter in the prior year, the company earned ($0.28) earnings per share. The business’s revenue for the quarter was up 133.0% compared to the same quarter last year. On average, equities research analysts expect that Ariad Pharmaceuticals will post ($0.09) earnings per share for the current fiscal year.

In related news, insider Timothy P. Clackson sold 8,750 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $13.98, for a total transaction of $122,325.00. Following the transaction, the insider now owns 226,272 shares of the company’s stock, valued at approximately $3,163,282.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Timothy P. Clackson sold 18,286 shares of the stock in a transaction on Friday, July 22nd. The shares were 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 disclosure for this sale can be found here. Corporate insiders own 8.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ARIA. Vanguard Group Inc. raised its position in Ariad Pharmaceuticals by 2.1% in the second quarter. Vanguard Group Inc. now owns 12,724,399 shares of the pharmaceutical company’s stock valued at $94,033,000 after buying an additional 259,003 shares in the last quarter. FMR LLC boosted its stake in shares of Ariad Pharmaceuticals by 73.2% in the second quarter. FMR LLC now owns 6,130,056 shares of the pharmaceutical company’s stock valued at $45,300,000 after buying an additional 2,589,810 shares during the last quarter. State Street Corp boosted its stake in shares of Ariad Pharmaceuticals by 1.8% in the second quarter. State Street Corp now owns 5,795,195 shares of the pharmaceutical company’s stock valued at $42,831,000 after buying an additional 100,436 shares during the last quarter. Consonance Capital Management LP purchased a new stake in shares of Ariad Pharmaceuticals during the first quarter valued at $35,629,000. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Ariad Pharmaceuticals by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,546,501 shares of the pharmaceutical company’s stock valued at $33,599,000 after buying an additional 41,983 shares during the last quarter. 71.99% of the stock is currently owned by institutional investors.

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