Cantor Fitzgerald Maintains a 'Hold' on Medicis (MRX); Acquisition Rewarding Patient Investors
Tweet
Share
E-mailGet Alerts MRX Hot Sheet
Price: $70.59 -2.45%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 11
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 11
Join SI Premium – FREE
Cantor Fitzgerald maintains a 'Hold' on Medicis (NYSE: MRX) price target of $44.00 (from $36).
Analyst, Irina Rivkind, said, " Medicis has been struggling over the past year with the underwhelming performance of its acne franchise and stagnation in recently acquired Zyclara. Other business development initiatives such as LipoSonix and privately held Revance have not panned out, and investors have expressed frustration with the lack of pipeline transparency given the visibility into several patent cliffs for products such as Vanos, MaxAir Autohaler, and Ziana. We always viewed a company sale as a viable exit opportunity for Medicis, but given its recent convertible debt issuance in May, we did not expect management to sell in the near term. We raise our price target to $44, in line with the terms of the recently announced Valeant (NYSE: VRX) agreement, and maintain our HOLD rating."
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 $31.56 yesterday.
Analyst, Irina Rivkind, said, " Medicis has been struggling over the past year with the underwhelming performance of its acne franchise and stagnation in recently acquired Zyclara. Other business development initiatives such as LipoSonix and privately held Revance have not panned out, and investors have expressed frustration with the lack of pipeline transparency given the visibility into several patent cliffs for products such as Vanos, MaxAir Autohaler, and Ziana. We always viewed a company sale as a viable exit opportunity for Medicis, but given its recent convertible debt issuance in May, we did not expect management to sell in the near term. We raise our price target to $44, in line with the terms of the recently announced Valeant (NYSE: VRX) agreement, and maintain our HOLD rating."
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 $31.56 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Marex Group PLC (MRX) PT Raised to $90 at Keefe, Bruyette & Woods
- Powell Industries (POWL) PT Lowered to $235 at Cantor Fitzgerald
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, Mergers and AcquisitionsRelated Entities
Cantor FitzgeraldSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
