Simplex Trading Lowers stake in Ariad Pharmaceuticals (ARIA)

Ariad Pharmaceuticals (ARIA) : Simplex Trading reduced its stake in Ariad Pharmaceuticals by 47.34% during the most recent quarter end. The investment management company now holds a total of 93,693 shares of Ariad Pharmaceuticals which is valued at $1,255,486 after selling 84,223 shares in Ariad Pharmaceuticals , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Ariad Pharmaceuticals makes up approximately 0.16% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in ARIA in the latest quarter, The investment management firm added 7,675 additional shares and now holds a total of 14,629 shares of Ariad Pharmaceuticals which is valued at $202,904.Franklin Street Advisors Inc Nc reduced its stake in ARIA by selling 11,500 shares or 25.5% in the most recent quarter. The Hedge Fund company now holds 33,600 shares of ARIA which is valued at $466,032. Ariad Pharmaceuticals makes up approx 0.09% of Franklin Street Advisors Inc Nc’s portfolio.

Ariad Pharmaceuticals opened for trading at $13.34 and hit $13.54 on the upside on Friday, eventually ending the session at $13.4, with a gain of 0.37% or 0.05 points. The heightened volatility saw the trading volume jump to 40,37,059 shares. Company has a market cap of $2,582 M.

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.

Many Wall Street Analysts have commented on Ariad Pharmaceuticals. SunTrust Initiated Ariad Pharmaceuticals on Oct 5, 2016 to “Buy”, Price Target of the shares are set at $22.Leerink Partners Initiated Ariad Pharmaceuticals on Sep 26, 2016 to “Outperform”, Price Target of the shares are set at $20.

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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