MKM Says Addition of Adams Could Spur Takeover Chatter in Auxilium (AUXL)
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Price: $36.47 --0%
Rating Summary:
4 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
4 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Shares of Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL) are up more than 4 percent Thursday as investors are positive on the company's new CEO, Adrian Adams. Auxilium announced the exec would replace Armando Anido, who resigned this morning.
As highlighted by MKM Partners' Jon LeCroy in an earlier research note, Adams has been head of a number of companies which were acquired by “major” pharmaceutical companies. Adams was previously employed by Neurologix, Inspire Pharma, Sepracor, and Kos Pharma.
In addition to the appointment of Adams, LeCroy believes Auxilium will become a more "realistic" takeover target once its indication for Xiaflex in Peyronie's disease is approved.
MKM maintains a Neutral rating and $18 price target on Auxilium shares.
Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Auxilium.
As highlighted by MKM Partners' Jon LeCroy in an earlier research note, Adams has been head of a number of companies which were acquired by “major” pharmaceutical companies. Adams was previously employed by Neurologix, Inspire Pharma, Sepracor, and Kos Pharma.
In addition to the appointment of Adams, LeCroy believes Auxilium will become a more "realistic" takeover target once its indication for Xiaflex in Peyronie's disease is approved.
MKM maintains a Neutral rating and $18 price target on Auxilium shares.
Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Auxilium.
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