Collins Stewart Starts Auxilium Pharmaceuticals (AUXL) at Buy
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Collins Stewart initiates coverage on Auxilium Pharmaceuticals Inc. (Nasdaq: AUXL) with a Buy rating and $49 price target, sying Xiaflex is a likely game-changing drug for Dupuytren's patients.
The firm said, "Given the demonstrated Phase 3 clinical efficacy and safety of Xiaflex (Dupuytren’s contracture) and the solid revenue base provided by Testim (male hypogonadism), we view AUXL as an attractive mid-cap biopharmaceutical company with solid future growth prospects. Based on feedback from our survey of 50 U.S. hand surgeons, we believe that the market opportunity for Xiaflex in Dupuytren’s is currently undervalued. Continued pipeline development and the potential signing of an attractive E.U. partnership should provide additional upside to AUXL shares."
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