Aralez Pharmaceuticals Inc. (NASDAQ:ARLZ) shares shot up 5.2% during mid-day trading on Friday following insider buying activity. The company traded as high as $1.21 and last traded at $1.21, with a volume of 575,728 shares traded. The stock had previously closed at $1.15.
Specifically, Director Arthur S. Kirsch acquired 50,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was acquired at an average cost of $1.17 per share, with a total value of $58,500.00. Following the transaction, the director now owns 206,609 shares in the company, valued at approximately $241,732.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew I. Koven sold 161,906 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $1.28, for a total value of $207,239.68. Following the transaction, the insider now directly owns 1,363,695 shares of the company’s stock, valued at $1,745,529.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 563,621 shares of company stock valued at $798,348. Insiders own 6.70% of the company’s stock.
Several research firms have recently issued reports on ARLZ. ValuEngine cut Aralez Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Chardan Capital decreased their target price on Aralez Pharmaceuticals from $10.00 to $5.50 and set a “buy” rating for the company in a research report on Wednesday, March 15th. Finally, Bloom Burton raised Aralez Pharmaceuticals from an “accumulate” rating to a “buy” rating in a research report on Monday, April 10th.
The stock’s market capitalization is $79.67 million. The stock’s 50 day moving average price is $1.36 and its 200 day moving average price is $3.06.
Aralez Pharmaceuticals (NASDAQ:ARLZ) last posted its quarterly earnings results on Tuesday, May 9th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.02. The firm had revenue of $26 million during the quarter, compared to analyst estimates of $20.23 million. Aralez Pharmaceuticals had a negative return on equity of 66.74% and a negative net margin of 133.92%. The firm’s revenue for the quarter was up 221.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.73) earnings per share. Equities analysts anticipate that Aralez Pharmaceuticals Inc. will post ($1.56) earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of ARLZ. Armistice Capital LLC increased its position in Aralez Pharmaceuticals by 35.0% in the fourth quarter. Armistice Capital LLC now owns 2,836,000 shares of the company’s stock worth $12,507,000 after buying an additional 736,000 shares during the period. Broadfin Capital LLC increased its position in Aralez Pharmaceuticals by 8.3% in the first quarter. Broadfin Capital LLC now owns 5,191,590 shares of the company’s stock worth $11,110,000 after buying an additional 400,000 shares during the period. Elk Creek Partners LLC increased its position in Aralez Pharmaceuticals by 13.3% in the first quarter. Elk Creek Partners LLC now owns 2,488,475 shares of the company’s stock worth $5,325,000 after buying an additional 292,420 shares during the period. Norges Bank purchased a new position in Aralez Pharmaceuticals during the fourth quarter worth approximately $665,000. Finally, KCG Holdings Inc. purchased a new position in Aralez Pharmaceuticals during the first quarter worth approximately $310,000. Institutional investors and hedge funds own 35.64% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Aralez Pharmaceuticals Inc. (ARLZ) Trading Up 5.2% After Insider Buying Activity” was first posted by sleekmoney and is owned by of sleekmoney. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://sleekmoney.com/aralez-pharmaceuticals-inc-arlz-trading-up-5-2-after-insider-buying-activity/1916835.html.
About Aralez Pharmaceuticals
Aralez Pharmaceuticals Inc is a Canada-based specialty pharmaceutical company. The Company focuses on acquiring, developing and commercializing products in cardiovascular, pain and other areas. The Company’s products include Fibricor, Cambia, Fiorinal, Fiorinal C, Soriatane, Bezalip SR, NeoVisc, Uracyst, Durela, Proferrin, Resultz and Collatamp G.
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/aralez-pharmaceuticals-inc-arlz-trading-up-5-2-after-insider-buying-activity/1916835.html
Receive News & Ratings for Aralez Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aralez Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.