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Fly News Breaks for October 21, 2016
ARIA
Oct 21, 2016 | 08:39 EDT
After ARIAD received a letter from two members of Congress regarding the prices of its Iclusig drug, JMP Securities analyst Michael King says that the resulting weakness in the stock "may present an interesting entry point." King says that the price of Iclusig is not "an egregious outlier" compared with "other expensive biotech-derived drugs," and he thinks that the drug's fulfillment of an unmet need is supportive of its prices. He keeps an Outperform rating on the shares.
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