Cantor Fitzgerald Upgrades Salix Pharmaceuticals (SLXP) to Buy
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Price: $66.42 -0.61%
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
11 Buy, 11 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade SLXP Now!
Cantor Fitzgerald upgraded Salix Pharmaceuticals (NASDAQ: SLXP) from Hold to Buy with a price target of $60.00 (from $59.00).
The firm comments, "Salix delivered revenues of $181M and earnings of $0.79 relative to $181M and $0.54 consensus. The earnings beat was driven by lower R&D spending and lighter tax. Management maintained revenue guidance of $735M but raised 2012 EPS guidance from $2.59 to $2.86 due to reduced operational expenses associated with the terminated primary care sales expansion. We have adjusted our estimates for weaker Solesta and purgatives sales and lower expenses going forward... The stock traded off more than we had expected after the Relistor CRL, but after the strong quarter we think it should begin to approach our price target."
For an analyst ratings summary and ratings history on Salix Pharmaceuticals click here. For more ratings news on Salix Pharmaceuticals click here.
Shares of Salix Pharmaceuticals closed at $44.99 yesterday, with a 52 week range of $25.64-$55.99.
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The firm comments, "Salix delivered revenues of $181M and earnings of $0.79 relative to $181M and $0.54 consensus. The earnings beat was driven by lower R&D spending and lighter tax. Management maintained revenue guidance of $735M but raised 2012 EPS guidance from $2.59 to $2.86 due to reduced operational expenses associated with the terminated primary care sales expansion. We have adjusted our estimates for weaker Solesta and purgatives sales and lower expenses going forward... The stock traded off more than we had expected after the Relistor CRL, but after the strong quarter we think it should begin to approach our price target."
For an analyst ratings summary and ratings history on Salix Pharmaceuticals click here. For more ratings news on Salix Pharmaceuticals click here.
Shares of Salix Pharmaceuticals closed at $44.99 yesterday, with a 52 week range of $25.64-$55.99.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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