Ariad Pharmaceuticals (ARIA) Releases Earnings Results, Beats Expectations By $0.70 EPS

Ariad Pharmaceuticals (ARIA) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.59 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.70. Analysts had a consensus of $-0.11. The company posted revenue of $68.13 million in the period, 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 opened for trading at $9 and hit $9.59 on the upside on Thursday, eventually ending the session at $9.47, with a gain of 12.47% or 1.05 points. The heightened volatility saw the trading volume jump to 1,67,13,482 shares. Company has a market cap of $1,811 M.

In a different news, on Jul 25, 2016, Timothy P Clackson (President, R&D, CSO) sold 18,286 shares at $8.11 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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