ARIAD Pharmaceuticals (NASDAQ:ARIA) has tumbled 9.07% during the past week and has dropped 2.97% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 7.98%. ARIAD Pharmaceuticals (NASDAQ:ARIA) has underperformed the index by 3.85% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
ARIAD Pharmaceuticals (NASDAQ:ARIA): The stock opened at $8.07 on Friday but the bulls could not build on the opening and the stock topped out at $8.20 for the day. The stock traded down to $7.50 during the day, due to lack of any buying support eventually closed down at $7.52 with a loss of -6.47% for the day. The stock had closed at $8.04 on the previous day. The total traded volume was 11,033,836 shares.
The company shares have dropped -14.25% from its 1 Year high price. On Aug 28, 2015, the shares registered one year high at $10.07 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $7.89 and the 200 Day Moving Average price is recorded at $6.48.
On the companys insider trading activities, Lavidas Athanese, director of Ariad Pharmaceuticals Inc, unloaded 76,250 shares at an average price of $8.2 on June 13, 2016. The total amount of the transaction was worth $625,250, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Cowen & Company upgrades its rating on ARIAD Pharmaceuticals (NASDAQ:ARIA). The rating major has initiated the coverage with outperform rating on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. The rating by the firm was issued on May 5, 2016. Currently the company Insiders own 8.2% of ARIAD Pharmaceuticals shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -6.06% . Institutional Investors own 70.69% of ARIAD Pharmaceuticals shares. During last six month period, the net percent change held by insiders has seen a change of -17.52%.
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 Companys 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).