New York, August 3 (FinanceEnquiry.com) – Analysts at Deutsche Bank Securities reiterate their BUY rating on the shares of Auxilium Pharmaceuticals Inc (NASDAQ: AUXL). The 12-month target price has been raised from $23 to $28.
In a research note published on August 1, the analysts mention that given higher revenues ie, +$6.1 million in tandem with lower than anticipated operating expenses ie, -$7.6 million, with EPS of $0.16 against estimate and the consensus of $0.05, first-ever profitable operating quarter has been reported by Auxilium Pharmaceuticals.
In addition to this, to reach $63 million, which is $8 million ahead of estimate, a very strong gain of 26 percent Y/Y has been reported by flagship TRT drug Testim, even though Xiaflex keeps on gaining traction slowly in contracture of Dupuytren.
Although, it is really difficult to view the launch of Dupuytren as anything but disappointing after 10 quarters on the market, still, driven by a number of indications with unmet need, Xiaflex is seen as one of the attractive long-lived assets with meaningful and considerable commercial potential, the analysts add further.
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