UPDATE: Bank of America Reiterates Auxilium Pharmaceuticals at Buy and Updates Model Following 4Q12 Results

In a report published Tuesday. Bank of America reiterated Auxilium Pharmaceuticals

at Buy and trims price objective to $25 from $26. Bank of America reported that, “We lowered our market growth assumptions for Testim based on recent Rx trends, and modestly increased our share estimates, which assume that AUXL's efforts to stabilize and grow share in 2013 are successful. These changes reduced our 2013E Testim sales to $252mn (from $257mn) and increased our 2014E sales to $302mn (from $293mn). We also lowered our Xiaflex sales estimates for 2013E to $71mn (from $85mn) and $104mn (from $119mn). Our new 2013E EPS is $0.15 (from $0.44) and our 2014E EPS is $0.98 (from $1.02).” Auxilium Pharmaceuticals shares closed at $17.06.