J.P. Morgan Maintains Overweight Rating on Medicis
According to J.P. Morgan, Medicis Pharmaceutical (NYSE: MRX) Overweight rating is maintained.
J.P. Morgan said that Medicis announced plans to take a $17 million reserve for Solodyn in 4Q/11 following successful efforts to secure broader managed care contracting for the product. “While highly conservative estimates now reflected for 2012 and longer-term upside potential to estimates based on volume growth for both Solodyn and Zyclara, we remain Overweight MRX shares.”
Medicis Pharmaceutical closed yesterday at $33.76.
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