Low Visibility Prompts Canaccord to Cut Price Target on Medicis (MRX)

August 9, 2012 9:24 AM EDT
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Price: $43.98 --0%

Rating Summary:
    6 Buy, 13 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Today Canaccord Genuity maintained a Hold rating on Medicis (NYSE: MRX) and cut their price target to $35.00 (from $38.00).

“While ASP has seen a notable pickup the last two quarters that has exceeded expectations, script trends have been slower to rebound and visibility here remains low, which was the primary concern heading into the quarter,” said analyst Randall Stanicky.

“We wait for signs of upside stock triggers to emerge by way of improved key product trends, pipeline conversion and potential for business development,” he added.

For 2012-2015 EPS he made the following revisions: $2.46, $2.91, $3.08 and $3.44, from a prior $2.77, $3.08, $3.19 and $3.48.

For an analyst ratings summary and ratings history on Medicis click here. For more ratings news on Medicis click here.

Shares of Medicis closed at $33.31 yesterday.

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