Leerink Swann Initiates Coverage on Ariad Pharmaceuticals to Outperform

Leerink Swann Initiates Coverage on Ariad Pharmaceuticals(NASDAQ:ARIA). The shares have been rated Outperform. The rating by Leerink Swann was issued on Sep 26, 2016.

In a different note, On Jul 29, 2016, Barclays said it Maintains its rating on Ariad Pharmaceuticals. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Underweight’ by the firm.

Ariad Pharmaceuticals (ARIA) made into the market gainers list on Thursdays trading session with the shares advancing 1.64% or 0.22 points. Due to strong positive momentum, the stock ended at $13.63, which is also near the day’s high of $13.74. The stock began the session at $13.5 and the volume stood at 93,14,659 shares. The 52-week high of the shares is $13.45 and the 52 week low is $4.37. The company has a current market capitalization of $2,627 M and it has 19,27,13,140 shares in outstanding.

Ariad Pharmaceuticals(ARIA) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $68.13M. Analysts had an estimated revenue of $60.64M. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Sep 23, 2016, Timothy P Clackson (President, R&D, CSO) sold 20,000 shares at $13.43 per share price.Also, 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).

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