Ariad Pharmaceuticals Sees Large Growth in Short Interest (ARIA)

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Ariad Pharmaceuticals (NASDAQ:ARIA) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 48,055,172 shares, a growth of 16.0% from the June 13th total of 41,432,857 shares, Stock Ratings Network reports. Approximately 26.6% of the shares of the stock are sold short. Based on an average trading volume of 7,279,284 shares, the days-to-cover ratio is presently 6.6 days.

Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “positive” rating on shares of Ariad Pharmaceuticals in a research note on Monday, June 2nd. Separately, analysts at JMP Securities reiterated a “market outperform” rating on shares of Ariad Pharmaceuticals in a research note on Thursday, May 8th. They now have a $8.00 price target on the stock, down previously from $10.00. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. Ariad Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $7.10.

Ariad Pharmaceuticals (NASDAQ:ARIA) opened at 5.87 on Tuesday. Ariad Pharmaceuticals has a 52 week low of $2.15 and a 52 week high of $23.00. The stock has a 50-day moving average of $6.44 and a 200-day moving average of $7.23. The company’s market cap is $1.097 billion.

Ariad Pharmaceuticals (NASDAQ:ARIA) last announced its earnings results on Wednesday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The company had revenue of $11.80 million for the quarter, compared to the consensus estimate of $10.41 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, analysts predict that Ariad Pharmaceuticals will post $-1.04 earnings per share for the current fiscal year.

ARIAD Pharmaceuticals, Inc (NASDAQ:ARIA) is a global oncology company focused on the discovery, development and commercialization of medicines for the cancer patients.

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