Rhenman Partners Asset Management Ab buys $6,206,250 stake in Ariad Pharmaceuticals (ARIA)

Ariad Pharmaceuticals (ARIA) : Rhenman Partners Asset Management Ab scooped up 25,000 additional shares in Ariad Pharmaceuticals during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 625,000 shares of Ariad Pharmaceuticals which is valued at $6,206,250.Ariad Pharmaceuticals makes up approximately 0.99% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , Public Employees Retirement Association Of Colorado reduced its stake in ARIA by selling 7,919 shares or 13.8% in the most recent quarter. The Hedge Fund company now holds 49,455 shares of ARIA which is valued at $470,317.Candriam Luxembourg S.c.a. boosted its stake in ARIA in the latest quarter, The investment management firm added 90,000 additional shares and now holds a total of 260,000 shares of Ariad Pharmaceuticals which is valued at $2,189,200. Ariad Pharmaceuticals makes up approx 0.06% of Candriam Luxembourg S.c.a.’s portfolio. Fox Run Management L.l.c. added ARIA to its portfolio by purchasing 22,900 company shares during the most recent quarter which is valued at $174,727. Ariad Pharmaceuticals makes up approx 0.08% of Fox Run Management L.l.c.’s portfolio. Bnp Paribas Arbitrage Sa added ARIA to its portfolio by purchasing 6,954 company shares during the most recent quarter which is valued at $52,225.

Ariad Pharmaceuticals closed down -0.02 points or -0.20% at $9.91 with 43,15,996 shares getting traded on Thursday. Post opening the session at $9.98, the shares hit an intraday low of $9.79 and an intraday high of $10.18 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Ariad Pharmaceuticals reported $0.59 EPS for the quarter, beating the analyst consensus estimate by $ 0.70 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.11. The company had revenue of $68.13 million for the quarter, compared to analysts expectations of $62.11 million. The company’s revenue was up 133.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on Ariad Pharmaceuticals. Company shares were Reiterated by Barclays on May 11, 2016 to “Underweight”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .

ARIAD Pharmaceuticals Inc. is a global oncology company. The Company is engaged in the discovery development and commercialization of small molecule drug indicated for the treatment of cancer. The Company’s product pipeline includes Iclusig (ponatinib) brigatinib (AP26113) AP32788 and ridaforolimus. Iclusig is a tyrosine kinase inhibitor (TKI) which is approved in the United States Europe and Australia for the treatment of adult patients with chronic myeloid leukemia (CML) and Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL). Brigatinib is an investigational inhibitor of anaplastic lymphoma kinase (ALK). AP32788 is an orally active TKI. Ridaforolimus is an investigational inhibitor of the mammalian target of rapamycin (mTOR).

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