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 ridaforolimus drug testing process. In the report, Jefferies states, "ARIA presented updated ridaforolimus OS data yesterday at ASCO in bone and soft tissue sarcoma from Phase 3 trial (SUCCEED) shows a continued trend in overall survival (OS) benefit of 21.4 months vs. 19.2 months for placebo (386 events, HR=0.88, p=0.2256)." At the moment, Jefferies has a Buy rating and a price target of $11 on the company's stock. On Monday, Ariad added 0.25% to its value to close the day at $7.91.