Medicis Pharmaceutical Downgraded to HOLD

This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with forbes.com to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, forbes.com is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Canaccord Genuity specialty pharmaceutical analyst Randall Stanicky downgraded his rating on Medicis Pharmaceutical Corp. (MRX) shares to HOLD from BUY and lowered his price target to $36 from $38. Of MRX, Mr. Stanicky said:

“Our thesis on MRX has not played out as SOLODYN has clearly seen volatility as the drive for managed care coverage plays out, and our take-out [i.e. acquisition] thesis has been pushed out – though not eliminated. We don’t see any meaningful downside and still see valuation support on what is an inexpensive asset base, but we struggle to find any meaningful catalysts or drivers of upside to numbers.”

Amazon Summits A Dow That No Longer Exists

At the end of February Walgreen’s Boots Alliance was unceremoniously removed from the vaunted Dow Jones Industrial Index and Amazon

Financial Institutions Feeling the Crunch in Countdown to CECL Implementation

I was retained by Big Four accounting and consulting firm KPMG to assist them in their thought leadership efforts centered on changing accounting regulations. In this case, the Financial Accounting Standards Board or FASB had instituted new rules on the measurement of current and expected credit losses, i.e. CECL, that would require massive reorganization of financial reporting for the largest financial services organizations in the world. This thought leadership piece concerned the results of a survey among C-suite executives about their state of preparedness in the final countdown to the CECL implementation.

Securitizing Structured Settlement Payment Streams: A Primer

Fall 2012. This article was written with Stefano Sola and Phil Donahue, executives at JGWPT Holdings. We were engaged by JGWPT to assist them
in publishing the article below for The Journal Of Structured Finance.

Is The Media Biased?

This story is from our February 2024 update newsletter that offers communications insights, and hopefully, some amusing diversion.

David R. Evanson, LLC