JMP reiterates Ariad at market outperform

Ariad Pharmaceuticals, Inc. was reiterated by JMP Securities analyst Charles C. Duncan at market outperform and an $8 price target. The company reported first-quarter results in line with JMP's and consensus expectations. Total revenues of $229,000 were slightly lower than the analyst's and consensus estimates of $300,000, and net loss per share of $0.25 was modestly below JMP's $0.23 and the Street's expectations of $0.18. Shares of the Cambridge, Mass., pharmaceutical company were down 11 cents, or 1.77%, at $6.09 on volume of 1,315,099 shares versus the three-month running average of 740,860 shares. (Nasdaq: ARIA)

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