Skip to main content

Market Overview

UPDATE: Mizuho Securities Downgrades Auxilium Pharmaceuticals

Share:

Mizuho Securities downgraded Auxilium Pharmaceuticals, Inc. (NASDAQ: AUXL) from Buy to Neutral and lowered its price target from $37 to $33 in a report issued Friday.

On Thursday, Endo Health Solutions Inc (NASDAQ: ENDP) announced it would acquire Auxilium in a $2.6 billion cash and stock transaction.

Analysts Mario Corso and Tim McDonough felt the offer reflected the fair value and lowered the target price to be "in-line with the agreed upon takeout price, because we expect shareholders to approve the deal and do not foresee a competing bid."

The report noted that Auxilium terminated its agreement to acquire QLT Inc (NASDAQ: QLTI) as a result of the acquisition agreement with Endo. The deal will "likely to receive AUXL shareholder approval in our opinion, competing bid not likely given that nearly four weeks have lapsed since ENDP's initial offer."

Shares of Auxilium recently traded at $31.92, down 1.6 percent.

Latest Ratings for AUXL

DateFirmActionFromTo
Oct 2014MizuhoDowngradesBuyNeutral
Oct 2014MKM PartnersDowngradesBuyNeutral
Sep 2014RBC CapitalDowngradesOutperformSector Perform

View More Analyst Ratings for AUXL
View the Latest Analyst Ratings

 

Related Articles (AUXL)

View Comments and Join the Discussion!

Posted-In: Mario Corso Mizuho Securities Tim McDonoughAnalyst Color Downgrades Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
ADBEWolfe ResearchInitiates Coverage On650.0
MAXJP MorganUpgrades50.0
PSTGKeybancReinstates
PLTRWolfe ResearchInitiates Coverage On23.0
CVLTKeybancReinstates
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com