UPDATE: Jefferies Reiterates On Auxilium Pharmaceuticals Following AUA Meeting

In a report published Thursday, Jefferies analyst Thomas Wei reiterated a Buy rating on

, but lowered the price target from $34.00 to $33.00. In the report, Jefferies noted, “The American Urology Association meeting served as a de facto platform for urologists to unite in outspoken defense of the cardiovascular (CV) safety of testosterone replacement therapy (TRT). With AUXL shares down 34% recently on Testim weakness, we see an opportunity to buy AUXL on the cheap for a strong Xiaflex launch, increased confidence in Testopel, and an unexpected view on longer-term upside on Testim sales.” Auxilium Pharmaceuticals closed on Wednesday at $20.44.