UPDATE - Auriga Downgrades Salix Pharma (SLXP) to Hold; Potential Limited on Relistor

UPDATE - Auriga downgrades Salix Pharma (Nasdaq: SLXP) from Buy to Hold. PT lowered from $54 to $51.

Analyst, Difei Yang, said, "At current levels, Salix shares appear to have upside from the potential approval of Relistor and Crofelemer priced in. While we still believe the 2012 guidance is achievable, we see the $1 billion revenue in 2013 as a difficult objective to accomplish. We expect to see a significant revenue growth slow-down from 2012 to 2013. In addition to the company fundamentals, we are concerned about the risks posed on the macros and the momentum of share price appreciation recently. We thus would recommend our clients to stay on the sidelines."

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