Ariad Pharmaceuticals (ARIA) is Initiated by SunTrust to Buy, Price Target at $22

Ariad Pharmaceuticals (ARIA) was Initiated by SunTrust to “Buy” and the brokerage firm has set the Price Target at $22. SunTrust advised their investors in a research report released on Oct 5, 2016.

Many Wall Street Analysts have commented on Ariad Pharmaceuticals. Leerink Partners Initiated Ariad Pharmaceuticals on Sep 26, 2016 to “Outperform”, Price Target of the shares are set at $20.

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 closed down -0.23 points or -1.69% at $13.36 with 52,26,057 shares getting traded on Tuesday. Post opening the session at $13.6, the shares hit an intraday low of $13.205 and an intraday high of $13.67 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Sep 28, 2016, Timothy P Clackson (President, R&D, CSO) sold 8,750 shares at $13.98 per share price. According to the SEC, on Jun 29, 2016, Hugh M Cole (SVP, Chief Business Officer) sold 6,012 shares at $7.05 per share price. On Jun 15, 2016, Athanese Lavidas (director) sold 76,250 shares at $8.20 per share price, according to the Form-4 filing with the securities and exchange commission.

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).

Ariad Pharmaceuticals

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