Medicis Pharmaceutical (MRX)

[Investorman]

Since we started discussing MRX on this board it has gone from $40.33 per share to $52.30. Interesting to note that they are sitting on $600 million in cash. Kind of unusual for a small company to have over $21 per share in cash.

The article noted that they have an authorization to use up to $75 million for a share buyback but that doesn't seem like the best use at this point since the share price is up and they don't have that many outstanding shares in the first place.

I guess they are holding the cash in case an opportunity for a good acquisition comes along.