Ariad rises after JPMorgan defends shares

|By:, SA News Editor

Beleaguered Ariad Pharmaceuticals (ARIA +10.4%) is enjoying a strong session thus far.

Market chatter (here, here, and here) indicates that the move is likely attributable to a JPMorgan note in which analysts say physicians may be less concerned about Iclusig's safety profile than investors.

JPM price target reportedly is $12.

More on the Iclusig issue here