Medicis reiterated at outperform

RBC Capital Markets analyst Ken Trbovich reiterated Medicis Pharmaceutical Corp. at outperform, above average risk on news that current consensus estimates are $0.02 below management guidance. Management has never missed its guidance in the 10+ years RBC has covered the company, according to the analyst. The early launch of Juvederm by Allergan, a worst case scenario, did not happen, nor did Dynacin prescriptions drop as quickly expected, thanks to the strong Solodyn launch. The analyst has little doubt Medicis will at least meet and should beat third-quarter 2006 guidance. Shares of the Scottsdale, Ariz.-based specialty pharmaceutical company were up 18 cents, or 0.59%, at $30.68. (NYSE: MRX)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.