Camber Capital Management Lowers stake in Ariad Pharmaceuticals (ARIA)

Ariad Pharmaceuticals (ARIA) : Camber Capital Management reduced its stake in Ariad Pharmaceuticals by 26.0% during the most recent quarter end. The investment management company now holds a total of 4,000,000 shares of Ariad Pharmaceuticals which is valued at $42,320,000 after selling 1,405,235 shares in Ariad Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Ariad Pharmaceuticals makes up approximately 2.25% of Camber Capital Management’s portfolio.

Other Hedge Funds, Including , Aperio Group reduced its stake in ARIA by selling 6,678 shares or 22.37% in the most recent quarter. The Hedge Fund company now holds 23,170 shares of ARIA which is valued at $245,139.Alliancebernstein boosted its stake in ARIA in the latest quarter, The investment management firm added 134,400 additional shares and now holds a total of 476,585 shares of Ariad Pharmaceuticals which is valued at $5,042,269.Blackrock Japan Ltd boosted its stake in ARIA in the latest quarter, The investment management firm added 369 additional shares and now holds a total of 1,282 shares of Ariad Pharmaceuticals which is valued at $13,564. Congress Asset Management Co sold out all of its stake in ARIA during the most recent quarter. The investment firm sold 30,000 shares of ARIA which is valued $304,800. Reilly Financial Advisors added ARIA to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $1,986.

Ariad Pharmaceuticals closed down -0.04 points or -0.39% at $10.21 with 27,29,979 shares getting traded on Monday. Post opening the session at $10.26, the shares hit an intraday low of $10.08 and an intraday high of $10.32 and the price fluctuated in this range throughout the day.Shares ended Monday 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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