Shares of Ariad Pharmaceutical (ARIA +5.7%) get a boost today as a number of firms come out in...

|By:, SA News Editor

Shares of Ariad Pharmaceutical (ARIA +5.7%) get a boost today as a number of firms come out in defense of the stock following last weeks drubbing. The FDA approved its leukemia treatment Iclusig, but with an unexpected boxed warning. Jefferies says the safety issues are hard to pinpoint directly to the drug and lowers its price target, but reiterates a Buy on the shares. Maxim reiterates a Buy as well, saying the potentially lower penetration due to reduced prescriptions is partially offset by a higher-than-expected selling price.