Cantor Fitzgerald Maintains a 'Buy' on Salix Pharmaceuticals (SLXP); Relistor News Provides Upside To Our Estimates

Cantor Fitzgerald maintains a 'Buy' on Salix Pharmaceuticals (NASDAQ: SLXP) price target raised to $60.00.

Cantor analyst says, "Salix and Progenics (NASDAQ: PGNX)(NotCovered) announced highly statistically significant results from 2 of 3 tested doses of oral Relistor, with efficacy data comparable to the injectable form (52-62% of patients had a bowel movement within 4 hours of taking injectable Relistor, so we assume similar results for the oral). We were even more impressed with the safety profile that was comparable to placebo."

"Less focus on the subcutaneous Relistor PDUFA in April. We no longer view this FDA decision as a gating factor to the broader launch of the oral form." (Cantor sees FY11 EPS estimate of $2.50 and FY12 at $2.55)

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 $43.23 yesterday.

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