This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Why Ariad Pharmaceuticals (ARIA) is Soaring

NEW YORK (TheStreet) -- Ariad Pharmaceuticals (ARIA - Get Report) is up, up, and away, after good news on Friday had the stock extending its rally through to Monday. Over the last two trading days, the stock has soared 82.4%.

The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) on Friday ruled that Ariad could continue marketing leukemia drug Iclusig, albeit with restrictions in place. These restrictions include advising against use in patients with a history of heart attack or stroke. Nonetheless, the decision bolsters Ariad's outlook.

By early afternoon Monday, the pharmaceuticals company had gained 33.6% to $5.05, and 45.15 million shares had changed hands, well over the three-month average daily trading volume of 18.6 million.

Also boosting shares, BMO Capital Markets reiterated a "market perform" rating and upgraded its 12-month price target to $4 from $2.50. However, the investment firm notes the CHMP decision doesn't necessarily mean a positive assessment by the FDA in the U.S.

Shares crashed 88% over October after Iclusig was suspended in the U.S. following studies showing an increase in blood clots and heart issues among medicated patients. In a statement, Ariad said the Iclusig marketing halt was a temporary measure while it "continues to negotiate updates to the U.S. prescribing information".

--Written by Keris Alison Lahiff.

For fun: The 10 Drunkest States in America... and the 10 most sober

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ARIA $8.39 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs