Jefferies Provides Color on Ariad Pharmaceuticals, Buy

Jefferies provided color on Ariad Pharmaceuticals ARIA. In a research report published today, Jefferies commented on the company's drug ridaforolimus. In the report, Jefferies states, "Given that there are no established options for 2nd-line endometrial cancer, we view ridaforolimus represents a potential treatment option. First-line therapy for endometrial cancer is hormonal therapy (progestin) or plantinum-sentisitve chemotherapy." At the moment, Jefferies has a Buy rating and a price target of $11 placed on the company's stock. On Friday, Ariad had a difficult trading session, losing 5.51% to close the week at $7.89. Its shares regained some of its Friday's losses in today's pre-market trading, however, rising 1.77% to $8.03.