Ariad initiated by Oppenheimer at buy

Ariad Pharmaceuticals Inc. was initiated Tuesday by Oppenheimer & Co. with a buy rating. The Cambridge, Mass.-based biotech is involved in the discovery and development of medicines to treat cancer, particularly leukemia and bone cancers, by regulating cell signaling with small molecules. Ariad shares on Tuesday added 41 cents, or 6.47%, to close at $6.75 on volume of 823,714 shares versus the three-month running average of 565,617.

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