Corvex Management Lp Exits Position in Ariad Pharmaceuticals (ARIA)

Ariad Pharmaceuticals (ARIA) : Corvex Management Lp has sold out all of its stake in Ariad Pharmaceuticals during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 100,000 shares of Ariad Pharmaceuticals which is valued at $1,058,000.

Other Hedge Funds, Including , Fred Alger Management Inc boosted its stake in ARIA in the latest quarter, The investment management firm added 89,300 additional shares and now holds a total of 151,300 shares of Ariad Pharmaceuticals which is valued at $1,600,754. Ariad Pharmaceuticals makes up approx 0.01% of Fred Alger Management Inc’s portfolio. Pacad Investment Ltd. added ARIA to its portfolio by purchasing 32,500 company shares during the most recent quarter which is valued at $343,850. Ariad Pharmaceuticals makes up approx 0.05% of Pacad Investment Ltd.’s portfolio.California Public Employees Retirement System reduced its stake in ARIA by selling 11,000 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 352,900 shares of ARIA which is valued at $3,504,297. Ariad Pharmaceuticals makes up approx 0.01% of California Public Employees Retirement System’s portfolio.Msi Financial Services Inc reduced its stake in ARIA by selling 62 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 5,103 shares of ARIA which is valued at $42,967.

Ariad Pharmaceuticals closed down -0.15 points or -1.45% at $10.19 with 25,49,575 shares getting traded on Thursday. Post opening the session at $10.33, the shares hit an intraday low of $10.06 and an intraday high of $10.37 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.

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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