Auxilium Pharmaceuticals "buy," target price raised

06/23/06 - Deutsche Securities

NEW YORK, June 23 (newratings.com) - Analysts at Deutsche Bank Securities maintain their "buy" rating on Auxilium Pharmaceuticals (AUXL). The target price has been raised from $11 to $13.

In a research note published yesterday, the analysts mention that the company has announced robust late stage clinical data for one of its main pipeline programmes, leading to the creation of another value driver after Testim. For the preparation of AA4500’s commercialization, Auxilium Pharmaceuticals is raising its R&D investment in the current year to ensure suitable manufacturing scale up, the analysts say.