Company

Bank

Analyst

Coverage

Opinion

Wk chg

6/8 cls

Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL)

Jefferies

Thomas Wei

Price target

Buy

14%

$21.57

Leerink

Joseph Schwartz

Upgrade

Outperform (from market perform)

Wei raised his target to $30 from $24 after Xiaflex collagenase met the co-primary endpoints in the Phase III IMPRESS I and II trials to treat Peyronie's disease (see B15). Auxilium said it plans to submit an sBLA to FDA by year end, and Wei said he remains "highly positive" on the approval of the injectable form of collagenase. Pfizer Inc. (NYSE:PFE) has European marketing rights from Auxilium, which has worldwide rights from BioSpecifics Technologies Corp. (NASDAQ:BSTC). Xiaflex is already approved to treat Dupuytren's contracture in adult patients with a palpable cord.

Schwartz also raised his target to $25 from $20 on the Phase III data.

Dendreon Corp. (NASDAQ:DNDN)

Baird

Christopher Raymond

Price target

Neutral

-7%

$6.31

Roth Capital Partners

Joseph Pantginis

Price target

Neutral

Wedbush

David Nierengarten

Price target

Underperform