Auxilium Pharmaceuticals (NASDAQ:AUXL) reported a Q2 loss of $0.11 per share, narrower than consensus estimates for a loss of $0.19 per share. Revenues for the quarter rose 30.5% year-over-year to $65.9 million, topping consensus estimates of $64.5 million.
Armando Anido, Chief Executive Officer and President of Auxilium said, "We believe that the progress we made in the second quarter of 2011 will drive long term shareholder value. XIAFLEX(R) showed double-digit sequential growth over the first quarter of 2011 and we remain encouraged by the success stories on XIAFLEX use, reflecting a steady shift in the treatment paradigm. Testim continued to perform well, despite several new competitors entering the market, with prescriptions posting growth over the second quarter of 2010 and over the first quarter 2011."
Auxilium Pharmaceuticals has a potential upside of 42.6% based on a current price of $18.74 and an average consensus analyst price target of $26.73.