Ariad Pharmaceuticals (ARIA) is Reiterated by Barclays to Underweight, Raises Price Target to $ 8

Ariad Pharmaceuticals (ARIA) was Reiterated by Barclays to “Underweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 8 from a previous price target of $6 . Barclays advised their investors in a research report released on May 11, 2016.

On the company’s financial health, Ariad Pharmaceuticals reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 10, 2016. Analyst had a consensus of $-0.27. The company had revenue of $35.60 million for the quarter, compared to analysts expectations of $40.90 million. The company’s revenue was up 48.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Ariad Pharmaceuticals opened for trading at $7.34 and hit $7.94 on the upside on Tuesday, eventually ending the session at $7.64, with a gain of 6.41% or 0.46 points. The heightened volatility saw the trading volume jump to 1,08,66,885 shares. Company has a market cap of $1,459 M.

In a different news, on May 2, 2016, Timothy P Clackson (President, R&D, CSO) sold 11,700 shares at $7.14 per share price. According to the SEC, on Mar 22, 2016, Edward M Fitzgerald (Executive VP) sold 5,417 shares at $6.47 per share price. On Mar 22, 2016, David L Berstein (SVP, Chief IP Counsel) sold 2,375 shares at $6.47 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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