RBC keeps Medicis at outperform

Medicis Pharmaceutical was maintained at outperform, above average risk, and a $42 price target by RBC Capital Markets analyst Ken Trbovich after the company reported third-quarter 2006 revenues of $90.0 million and adjusted earnings per share of $0.28, compared to Trbovich's estimates of $92.9 million and $0.25. Management raised fourth-quarter 2006 guidance from earnings per share of $0.32 on $101 million in sales to earnings per share of $0.33 on $105 million in sales. Shares of the Scottsdale, Ariz.-based specialty pharmaceutical company were down $1.88, or 4.81%, at $37.20. (NYSE: MRX)

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