There has been some selling insider activity on ARIAD Pharmaceuticals, Inc. (NASDAQ:ARIA) recently. Today Timothy P. Clackson, President, R&D, CSO disclosed the sale of 20,000 shares of ARIA stock. The shares were sold on September 22nd for an average price of $13.43. The President, R&D, CSO now owns $2,803,808 of the stock according to the SEC filing. Hugh M. Cole, Sr VP reported the sale of 6,012 shares of (ARIA). The shares were purchased at an average price of $7.05. Cole now owns $210,908 of the stock per the Form 4 SEC filing.
Director Athanese Lavidas sold 76,250 shares at a price of $8.20 on Wed the 15th. That brings Lavidas’s holdings to $1,079,374 as recorded in a recent Form 4 SEC filing.
These firms have also modified their investment in ARIA. As of quarter end Wolverine Asset Management LLC had acquired a total of 234,895 shares growing its stake by 13,776.8%. The value of the company’s investment in ARIAD Pharmaceuticals, Inc. increased from $131,000 to $1,748,000 a change of 1,234.4% quarter over quarter. As of the end of the quarter Royal Bank Of Canada had sold 8,507 shares trimming its holdings by 99.8%. The value of the total investment in ARIAD Pharmaceuticals, Inc. went from $54,000 to $0 decreasing 100.0% since the last quarter.
Ifp Advisors, Inc added to its position by buying 50,000 shares an increase of 1,259.4% as of 06/30/2016. Ifp Advisors, Inc now controls 53,970 shares with a value of $399,000. The value of the position overall is up by 1,496.0%. Schwab Charles Investment Management Inc grew its holdings by buying 94,939 shares an increase of 16.4%. Schwab Charles Investment Management Inc now holds 674,330 shares valued at $4,984,000. The total value of its holdings increased 37.6%.
On September 26 analysts at Leerink Swann initiated coverage on ARIA by announcing an initial rating of “Outperform”. July 29 investment analysts at Barclays held the company rating at “Underweight” and raised the price target from $6.00 to $9.00.
On May 5 the company was rated “Outperform” according to a Cowen & Company report which is up from the previous “” rating. On March 9 JMP Securities held the stock rating at “Market Outperform” and moved down the price target to $9.00 from $11.00.
Barclays issued its first research report on the stock with an initial rating of “Underweight” and projecting a price target of $6.00. On December 11 the stock rating was downgraded to “Underperform” from “Neutral” and a price target of $6.00 was set in a report from Credit Suisse.
The company is up from yesterday’s close of $13.95. Company chares are trading at $14.14 which is just over the 50 day moving average of $11.02 and a tad higher than the 200 day moving average of $8.42. The 50 day moving average went up $3.12 or +28.26% whereas the 200 day moving average was up $5.72 or +67.96%.
In the latest earnings report the EPS was $-0.31 and is projected to be $-0.09 for the current year with 192,713,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-0.18 with next year’s EPS anticipated to be $-0.55.
Investors are feeling more bearish on shares of the company if you take a look at the increase in short interest. The company saw a rise in short interest from August 31, 2016 to September 15, 2016 of 0.01%. Short interest grew from 28,931,558 to 29,091,632 over that period. With short interest at 29,091,632 and short average daily volume at 4,625,186, days to cover is 6.3 and the percentage of shorted shares was 0.15% on September 15.