Ironwood Investment Management Lowers stake in Ariad Pharmaceuticals (ARIA)

Ariad Pharmaceuticals (ARIA) : Ironwood Investment Management reduced its stake in Ariad Pharmaceuticals by 9.64% during the most recent quarter end. The investment management company now holds a total of 293,352 shares of Ariad Pharmaceuticals which is valued at $3,103,664 after selling 31,284 shares in Ariad Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Ariad Pharmaceuticals makes up approximately 2.19% of Ironwood Investment Management’s portfolio.

Other Hedge Funds, Including , Adage Capital Partners Gp L.l.c. reduced its stake in ARIA by selling 4,750,000 shares or 89.41% in the most recent quarter. The Hedge Fund company now holds 562,361 shares of ARIA which is valued at $5,949,779. Ariad Pharmaceuticals makes up approx 0.02% of Adage Capital Partners Gp L.l.c.’s portfolio. Ascend Capital sold out all of its stake in ARIA during the most recent quarter. The investment firm sold 100,000 shares of ARIA which is valued $1,058,000.Parametric Portfolio Associates boosted its stake in ARIA in the latest quarter, The investment management firm added 6,155 additional shares and now holds a total of 73,249 shares of Ariad Pharmaceuticals which is valued at $774,974.Oxford Asset Management reduced its stake in ARIA by selling 225,922 shares or 22.95% in the most recent quarter. The Hedge Fund company now holds 758,519 shares of ARIA which is valued at $7,706,553. Ariad Pharmaceuticals makes up approx 0.30% of Oxford Asset Management’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in ARIA by selling 7,919 shares or 13.8% in the most recent quarter. The Hedge Fund company now holds 49,455 shares of ARIA which is valued at $470,317.

Ariad Pharmaceuticals closed down -0.15 points or -1.45% at $10.19 with 25,49,575 shares getting traded on Thursday. Post opening the session at $10.33, the shares hit an intraday low of $10.06 and an intraday high of $10.37 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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