UPDATE: Stifel Nicolaus Cuts PT to $26 on Ariad Pharmaceuticals on Tempered Iclusig Outlook

Stifel Nicolaus maintained Ariad Pharmaceuticals ARIA with a Buy rating and lowered the price target from $27.00 to $26.00. Stifel Nicolaus noted, "We surveyed 34 hematology/oncology specialists in February. Results continue to suggest best-in-class potential for Iclusig in third-line and later-line therapy but greater uncertainty than before regarding Iclusig's front-line potential on the heels of black box warnings for thrombosis and hepatotoxicity. We decrease our target price to $26 from $27 as we decrease our Iclusig sales and out-year EPS estimates." Ariad Pharmaceuticals closed at $20.08 on Wednesday.