Bank of America Maintains Buy Rating on Auxilium Pharmaceuticals

Bank of America is maintaining is Buy rating on shares of Auxilium Pharmaceuticals Inc.

. “We lowered our sales estimates for Testim based on recent IMS trends and Xiaflex based on a more conservative ramp,” Bank of America writes. “Based on the changes, we lowered 2011E revenue to $262mn (from $270mn) and 2012E revenue to $336mn (from $369mn). Our new 2011E EPS is -$0.75 (from -$0.77) and 2012E EPS is $0.22 (from $0.61). “Our DCF-based PO is unchanged at $30. We are maintaining our Buy rating as we continue to believe that Xiaflex has significant sales potential and that utilization will steadily grow over time.” Auxilium Pharmaceuticals closed Wednesday at $22.39.