UPDATE: MKM Partners Upgrades Auxilium Pharmaceuticals (AUXL) to Buy

MKM Partners upgraded Auxilium Pharmaceuticals (NASDAQ: AUXL) from Neutral to Buy with a price target of $26.00.

Analyst Jon LeCroy said, "Auxilium shares are down 30% since March 4, versus up 2% for the S&P 500, on declines in the company’s Testim testosterone business and after the huge initial ramp for Stendra (erectile dysfunction) slowed in recent months. We note that in the past several weeks, Testim declines appear to have slowed somewhat and Stendra prescriptions continue to grow. We think the recent pullback in Auxilium shares is overdone and we are upgrading shares from Neutral to Buy."

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 $22.54 yesterday.

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