NEW YORK (TheStreet) -- Shares of Ariad Pharmaceuticals  (ARIA)  advanced 6.52% to $12.90 on heavy trading volume on Tuesday on renewed takeover speculation.

Posts on social network Twitter (TWTR) indicated that the Cambridge, MA-based oncology company is again being viewed as a possible buyout candidate that would attract a significant premium, Bloomberg reports. 

In August of last year, Baxalta (BXLT) reportedly expressed interest in an acquisition but later dropped its pursuit due to pricing disagreements and push-back from its shareholders, according to Bloomberg. 

Allergan's (AGN) recent acquisitions of Akarna Therapeutics, Tobira Therapeutics (TBRA) and Vitae Pharmaceuticals (VTAE) are fueling takeover speculation. 

Ariad is an attractive target, RBC Capital Markets analyst Michael Yee told Bloomberg.

"You have many large pharma companies, buyers, who have said publicly that they are looking for exactly these types of acquisitions," Yee said, according to Bloomberg. 

About 12.71 shares of Ariad traded hands on Tuesday, well above the company's average trading volume of roughly 4.77 million shares a day. 

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.

Ariad's weaknesses include its weak operating cash flow.

You can view the full analysis from the report here: ARIA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.