UPDATE: Goldman Sachs Raises Medicis Pharmaceuticals' PT

According to a research report published this morning, Goldman Sachs has increased Medicis Pharmaceuticals'

PT 2% to $44. In the report, Goldman Sachs commented, "The relaunch of Zyclara remains a key market focus, intensified by the new branded competition in the actinic keratosis (AK) market from Picato Gel. In this report we review the AK treatment paradigm, the competitive profile of Zyclara relative to key therapies, recent prescription trends, and our prescription model. While Picato Gel will find a place in the market, we continue to expect meaningful growth from Zyclara." Goldman Sachs maintains its Buy rating on Medicis Pharmaceuticals, which closed yesterday at $38.23.