Cantor Fitzgerald Starts Medicis (MRX) at Hold; Transitional Year Ahead; We See Some Wrinkles In The Story

Cantor Fitzgerald initiates coverage on Medicis (NYSE: MRX) with a Hold. PT $34.00.

Cantor analyst said, "In 2011 Medicis reached a plateau in its formerly robust growth cycle. Though we are favorably predisposed to the recent Graceway acquisition as a means to re-energize the company, we are also concerned about Zyclara market dynamics and see only modest remaining growth in the acne and aesthetic portfolios. Longer-term we lack visibility into the replacement Solodyn forms and the majority of the company's late-stage pipeline and are apprehensive about the pending phase-outs of Vanos, Ziana, Maxair, and the Restylane franchise, which adversely impact terminal value."

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 $32.19 yesterday.

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