J.P. Morgan Reiterates Overweight Rating On Ariad Pharmaceuticals

According to J.P. Morgan, Ariad Pharmaceuticals

Overweight rating is reiterated. J.P. Morgan said that it reiterates its OW rating on ARIA following Friday's very well attended R&D Day in NYC. “While ARIA shares could be volatile (along with the rest of biotech) over the summer months, we remain very comfortable with the company's intermediate to long-term outlook. We are establishing a prob-adj Dec 2012 PT of $13 (our prior Dec 2011 PT was $10).” Ariad Pharmaceuticals closed on Friday at $9.32.