ARIAD Pharmaceuticals, Inc. (ARIA) Downgraded to “Market Perform” at Leerink Swann

Leerink Swann downgraded shares of ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) from an outperform rating to a market perform rating in a research report sent to investors on Tuesday.

Several other equities analysts also recently weighed in on the stock. Barclays PLC upgraded shares of ARIAD Pharmaceuticals from an underweight rating to an equal weight rating and increased their price target for the stock from $9.00 to $24.00 in a report on Tuesday. Jefferies Group downgraded shares of ARIAD Pharmaceuticals from a buy rating to a hold rating and increased their price target for the stock from $11.00 to $24.00 in a report on Tuesday. Zacks Investment Research downgraded shares of ARIAD Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, December 27th. William Blair reiterated an outperform rating and issued a $15.00 price target on shares of ARIAD Pharmaceuticals in a report on Saturday, December 10th. Finally, JMP Securities reiterated a market perform rating on shares of ARIAD Pharmaceuticals in a report on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. ARIAD Pharmaceuticals presently has an average rating of Hold and an average price target of $15.44.

Shares of ARIAD Pharmaceuticals (NASDAQ:ARIA) traded up 0.08% during midday trading on Tuesday, reaching $23.70. 35,578,806 shares of the company traded hands. The firm’s market capitalization is $4.60 billion. The company has a 50-day moving average of $12.93 and a 200 day moving average of $10.88. ARIAD Pharmaceuticals has a 12-month low of $4.37 and a 12-month high of $23.73.

ARIAD Pharmaceuticals (NASDAQ:ARIA) last issued its quarterly earnings results on Monday, November 7th. The pharmaceutical company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ 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. During the same quarter last year, the company posted ($0.29) EPS. ARIAD Pharmaceuticals’s quarterly revenue was up 58.3% compared to the same quarter last year. On average, equities analysts forecast that ARIAD Pharmaceuticals will post ($0.04) earnings per share for the current year.

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In other 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 sale, the vice president now owns 161,404 shares of the company’s stock, valued at approximately $3,838,187.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy P. Clackson sold 19,638 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $9.56, for a total transaction of $187,739.28. Following the sale, the insider now directly owns 197,884 shares in the company, valued at approximately $1,891,771.04. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in ARIAD Pharmaceuticals by 8,002.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 6,019,988 shares of the pharmaceutical company’s stock worth $82,414,000 after buying an additional 5,945,688 shares in the last quarter. Dai Ichi Life Holdings Inc. bought a new stake in ARIAD Pharmaceuticals during the third quarter worth about $877,000. Redmile Group LLC bought a new stake in ARIAD Pharmaceuticals during the third quarter worth about $29,276,000. Panagora Asset Management Inc. boosted its stake in ARIAD Pharmaceuticals by 215.4% in the third quarter. Panagora Asset Management Inc. now owns 94,588 shares of the pharmaceutical company’s stock worth $1,295,000 after buying an additional 64,594 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new stake in ARIAD Pharmaceuticals during the third quarter worth about $2,120,000. 85.15% of the stock is currently owned by institutional investors and hedge funds.

ARIAD Pharmaceuticals Company Profile

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).

5 Day Chart for NASDAQ:ARIA

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