UPDATE: Leerink Swann Raises Auxilium Pharma (AUXL) to Outperform; Surprise From Phase III Trials
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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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(Updated - June 4, 2012 2:55 PM EDT)
Leerink Swann upgraded shares of Auxilium Pharma(NASDAQ: AUXL) from Market Perform to Outperform in an intraday research note Monday. PT raised from $20 to $25.
Analyst, Joseph P. Schwartz. said, "AUXL surprisingly reported both coprimary endpoints met stat. sig. in both Phase III trials for Xiaflex in Peyronie's Disease (PD). As we expected, results for the curvature endpoint were stronger than the bother endpoint, which was barely stat. sig. and must still be fully validated. Questions are raised by use of a modified intent to treat (mITT) analysis which excluded over a quarter of patients who weren't sexually active at baseline from both endpoint calculations, but this was at FDA's request. Orphan drug status should help probability of approval."
Schwartz raised FY12 EPS from (0.40) to (0.21) and revenues from $290.4 mln to $302.4 mln. FY13 raised from $0.22 to $0.23 and revenues from $355.1 mln to $373.4 million.
The upgrade follows results from IMPRESS trials which showed XIAFLEX met its endpoints. Shares of Auxilium are up more than 9 percent amid the news. The stock last traded at $20.64.
For an analyst ratings summary and ratings history on Auxilium Pharmaceuticals click here. For more ratings news on Auxilium Pharmaceuticals click here.
Leerink Swann upgraded shares of Auxilium Pharma(NASDAQ: AUXL) from Market Perform to Outperform in an intraday research note Monday. PT raised from $20 to $25.
Analyst, Joseph P. Schwartz. said, "AUXL surprisingly reported both coprimary endpoints met stat. sig. in both Phase III trials for Xiaflex in Peyronie's Disease (PD). As we expected, results for the curvature endpoint were stronger than the bother endpoint, which was barely stat. sig. and must still be fully validated. Questions are raised by use of a modified intent to treat (mITT) analysis which excluded over a quarter of patients who weren't sexually active at baseline from both endpoint calculations, but this was at FDA's request. Orphan drug status should help probability of approval."
Schwartz raised FY12 EPS from (0.40) to (0.21) and revenues from $290.4 mln to $302.4 mln. FY13 raised from $0.22 to $0.23 and revenues from $355.1 mln to $373.4 million.
The upgrade follows results from IMPRESS trials which showed XIAFLEX met its endpoints. Shares of Auxilium are up more than 9 percent amid the news. The stock last traded at $20.64.
For an analyst ratings summary and ratings history on Auxilium Pharmaceuticals click here. For more ratings news on Auxilium Pharmaceuticals click here.
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