UBS Maintains a 'Buy' on Auxilium Pharmaceuticals (AUXL); Conference Call Takeaways

UBS maintains a 'Buy' on Auxilium Pharmaceuticals (NASDAQ: AUXL) price target lowered from $30 to $27.

UBS analyst says, "What’s new? What we learned on the conference call: (1) Mgt. has initiated several efforts to drive momentum in Xiaflex sales incl. sampling, co-pay assistance, and DCT ads. (2) CPT codes (effective 1/1/2012) have been granted for Xiaflex; reimburs’t rates will be issued later this week. (3) Mgt. expects sig. growth in 4Q to help Xiaflex meet the $45-50M guidance. For next year, benefit from the CPT codes is expected to be slow. (4) Testim TRxs continue to grow; price incr. in 3Q was more than offset by rebates. (5) Changes in sales/m’kting leadership and service providers. (5) Pipeline updates."

UBS raises FY11 EPS estimate from (0.72) to (0.59), but lowers FY12 from $0.12 to (0.30).

For more ratings news on Auxilium Pharmaceuticals click here and for the rating history of Auxilium Pharmaceuticals click here.

Shares of Auxilium Pharmaceuticals closed at $15.56 yesterday.

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