Leerink Swann Boosts Price Target On Auxilium (AUXL), Sees Equal Risk/Reward
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Price: $36.47 --0%
Rating Summary:
4 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 9 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Leerink Swann raised its price target on Auxilium Pharmaceuticals (NASDAQ: AUXL) from $16 to $20 but maintained its Market Perform rating.
"Our scenario analysis suggests roughly equal upside/downside for AUXL shares at the current valuation heading into pivotal Xiaflex IMPRESS data in 2Q:12."
The firm is handicaping positive Phase III results for IMPRESS and FDA approval at 60%. Since the mean baseline PDQ in Phase III is 7.7 points, a combined 2.1 point reduction may be necessary to meet AUXL's 27% treatment effect reduction assumption, the firm also notes.
Leerink sees roughly equal upside/downside going into the Phase III trial
For an analyst ratings summary and ratings history on Auxilium Pharmaceuticals click here. For more ratings news on Auxilium Pharmaceuticals click here.
Shares of Auxilium Pharmaceuticals closed at $19.87 yesterday.
"Our scenario analysis suggests roughly equal upside/downside for AUXL shares at the current valuation heading into pivotal Xiaflex IMPRESS data in 2Q:12."
The firm is handicaping positive Phase III results for IMPRESS and FDA approval at 60%. Since the mean baseline PDQ in Phase III is 7.7 points, a combined 2.1 point reduction may be necessary to meet AUXL's 27% treatment effect reduction assumption, the firm also notes.
Leerink sees roughly equal upside/downside going into the Phase III trial
For an analyst ratings summary and ratings history on Auxilium Pharmaceuticals click here. For more ratings news on Auxilium Pharmaceuticals click here.
Shares of Auxilium Pharmaceuticals closed at $19.87 yesterday.
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