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UPDATE: Mizuho Securities Reiterates On Auxilium Pharmaceuticals On Cost Savings/Taxes

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In a report published Wednesday, Mizuho Securities analyst Mario Corso reiterated a Buy rating on Auxilium Pharmaceuticals (NASDAQ: AUXL), and raised the price target from $33.00 to $37.00.

In the report, Mizuho Securities USA noted, “Last night's ENDP bid of $28.10/AUXL share is below 2014 high and our standalone valuation, implying term revisions likely. Inclusion of restructuring cost savings/QLT tax benefits raised numbers dramatically in 2015+, with our 2014 slightly lower on revenue conservatism, DCF target to $37 from $33. We do not expect major negatives from Wednesday's testosterone FDA panel, but CV studies could be requested and/or approved indication narrowed, but little effect with Testim now <10% of 2015 revenue vs. 50% in 2013, reflecting focus on growth drivers Xiaflex, Stendra,”

Auxilium Pharmaceuticals closed on Tuesday at $21.52.

Latest Ratings for AUXL

DateFirmActionFromTo
Oct 2014DowngradesBuyNeutral
Oct 2014DowngradesBuyNeutral
Sep 2014DowngradesOutperformSector Perform

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Posted-In: Mario Corso Mizuho Securities USAAnalyst Color Price Target Analyst Ratings

 

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