12:00 AM
Aug 06, 2012
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 8/3 cls
Auxilium Pharmaceuticals Inc. (NASDAQ:AUXL) Leerink Joseph Schwartz Downgrade Market perform (from outperform) -9% $24.18
Schwartz raised his target to $27 from $25 after Auxilium reported its first profitable quarter but downgraded on the lack of "obvious sources of upside" in the near term. He noted the stock has appreciated about 40% since his upgrade in June. Auxilium reported 2Q12 EPS of $0.16 and 2Q12 revenues of $78.2M, beating the Street's EPS and revenue estimates (see "EPS Watch," A19). Auxilium also reported 2Q12 total revenues for testosterone replacement therapy Testim of $63.8M, beating his and the consensus estimate of $58M.
Aveo Pharmaceuticals Inc. (NASDAQ:AVEO) Jefferies Thomas Wei Downgrade Hold (from buy) -29% $9.85
Wei also lowered his target to $11 from $30 on increased regulatory risk for tivozanib after the company said FDA expressed concerns about the "unfavorable" overall survival (OS) trend in the Phase III TIVO-1 trial comparing tivozanib to Nexavar sorafenib in renal cell carcinoma (RCC). Aveo hopes to submit an NDA this quarter, but said it is conducting additional OS analyses to address the agency's concerns that could delay the submission into next quarter. Tivozanib is an inhibitor of VEGF receptors 1, 2 and 3;...

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