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

Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) 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 purchased 45,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average price of $2.27 per share, for a total transaction of $102,150.00. Following the purchase, the director now directly owns 149,109 shares of the company’s stock, valued at approximately $338,477.43. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Adrian Adams purchased 500,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average price of $2.46 per share, for a total transaction of $1,230,000.00. Following the purchase, the chief executive officer now directly owns 3,569,230 shares in the company, valued at $8,780,305.80. The disclosure for this purchase can be found here. Insiders purchased 549,750 shares of company stock worth $1,342,173 in the last 90 days. 6.77% of the stock is currently owned by corporate insiders.

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

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

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tiger Legatus Capital Management LLC raised its position in shares of Aralez Pharmaceuticals by 1.3% in the fourth quarter. Tiger Legatus Capital Management LLC now owns 1,985,000 shares of the company’s stock worth $8,754,000 after buying an additional 25,000 shares during the last quarter. Broadfin Capital LLC increased its stake in Aralez Pharmaceuticals by 8.7% in the fourth quarter. Broadfin Capital LLC now owns 4,791,590 shares of the company’s stock valued at $21,131,000 after buying an additional 384,600 shares during the period. Integre Asset Management LLC increased its stake in Aralez Pharmaceuticals by 31.7% in the fourth quarter. Integre Asset Management LLC now owns 81,938 shares of the company’s stock valued at $361,000 after buying an additional 19,715 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Aralez Pharmaceuticals during the fourth quarter valued at approximately $103,000. Finally, J. Goldman & Co LP acquired a new stake in Aralez Pharmaceuticals during the fourth quarter valued at approximately $198,000. Institutional investors and hedge funds own 44.01% of the company’s stock.

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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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