Cantor Fitzgerald Maintains a 'Buy' on Salix Pharmaceuticals (SLXP); Suggests Buying Into Weakness

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

Analyst, Irina Rivkind, said, "Nothing to fear from Relistor...Big picture is still bright for Salix: We are more focused on the approval of oral Relistor in 2013 than on the smaller contribution from the injectable form in 2012. Safety data from the oral Phase III trial demonstrated an adverse event profile comparable to placebo. We therefore believe the oral form is more tolerable and will be better received by the market. With the company's recent accretive convertible debt financing, we think that Salix is even better positioned for continued M&A or additional investment into its business. Additionally, Xifaxan weekly data indicate strong growth trends (milligrams are still growing >20% Y/Y)."

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 $47.82 yesterday.

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