Aralez Pharmaceuticals Inc (ARLZ) Shares Gap Up After Insider Buying Activity

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) shares gapped up before the market opened on Monday after an insider bought additional shares in the company. The stock had previously closed at $1.93, but opened at $2.25. Aralez Pharmaceuticals shares last traded at $2.36, with a volume of 4,483,662 shares changing hands.

Specifically, Director Arthur S. Kirsch acquired 45,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average cost of $2.27 per share, with a total value of $102,150.00. Following the acquisition, the director now directly owns 149,109 shares of the company’s stock, valued at $338,477.43. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adrian Adams purchased 500,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average cost of $2.46 per share, for a total transaction of $1,230,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,569,230 shares of the company’s stock, valued at approximately $8,780,305.80. The disclosure for this purchase can be found here. Insiders bought a total of 549,750 shares of company stock worth $1,342,173 over the last ninety days. Insiders own 6.77% of the company’s stock.

Separately, Chardan Capital lowered their price target on shares of Aralez Pharmaceuticals from $10.00 to $5.50 and set a “buy” rating on the stock in a report on Wednesday, March 15th.

The company’s market cap is $154.58 million. The stock’s 50-day moving average is $3.88 and its 200-day moving average is $4.58.

Aralez Pharmaceuticals (NASDAQ:ARLZ) last released its quarterly earnings data on Monday, March 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.11. Aralez Pharmaceuticals had a negative return on equity of 65.67% and a negative net margin of 211.76%. The company had revenue of $20 million for the quarter, compared to analyst estimates of $21.86 million. During the same period in the previous year, the business posted ($0.40) EPS. The firm’s revenue for the quarter was up 233.3% compared to the same quarter last year. On average, analysts predict that Aralez Pharmaceuticals Inc will post ($1.07) EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC boosted its stake in Aralez Pharmaceuticals by 30.3% in the third quarter. Shufro Rose & Co. LLC now owns 21,487 shares of the company’s stock worth $104,000 after buying an additional 5,000 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Aralez Pharmaceuticals during the fourth quarter worth $103,000. J. Goldman & Co LP bought a new stake in Aralez Pharmaceuticals during the fourth quarter worth $198,000. Nwam LLC bought a new stake in Aralez Pharmaceuticals during the third quarter worth $228,000. Finally, FNY Managed Accounts LLC boosted its stake in Aralez Pharmaceuticals by 13.5% in the third quarter. FNY Managed Accounts LLC now owns 59,000 shares of the company’s stock worth $286,000 after buying an additional 7,000 shares during the last quarter. 44.01% of the stock is currently owned by institutional investors.

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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.

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