Wells Fargo Reiterates an 'Outperform' on Salix Pharmaceuticals (SLXP); Buy Shares of Weakness
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Price: $172.81 --0%
Rating Summary:
7 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo reiterates an 'Outperform' on Salix Pharmaceuticals (NASDAQ: SLXP) price target range of $55-$60 (from $58-$62)
Analyst, Michael Tong, said, "Recommend buying if shares weaken on the Relistor SC CRL for chronic pain patients. While the CRL is a setback, it does not materially affect the near to intermediate term growth prospects of the Relistor franchise, in our view. We speculate the FDA may require additional clinical studies (possibilities: a second efficacy study, a longer dosing regimen study), and view a 2-3 year delay for Relistor (SC and oral) approval as worst case."
Maintains FY12 EPS estimate at $2.59, but lowers FY13 from $2.75 to $2.66.
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 $53.19 yesterday.
Analyst, Michael Tong, said, "Recommend buying if shares weaken on the Relistor SC CRL for chronic pain patients. While the CRL is a setback, it does not materially affect the near to intermediate term growth prospects of the Relistor franchise, in our view. We speculate the FDA may require additional clinical studies (possibilities: a second efficacy study, a longer dosing regimen study), and view a 2-3 year delay for Relistor (SC and oral) approval as worst case."
Maintains FY12 EPS estimate at $2.59, but lowers FY13 from $2.75 to $2.66.
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 $53.19 yesterday.
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