Cantor Fitzgerald Reiterates a 'Buy' on Salix Pharmaceuticals (SLXP); Is Relistor Still in Play?

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

Analyst, Irina Rivkind, said, "Salix management pointed out that it may be incorrect to assume that a cardiac issue with the drug is the delaying factor. Management indicated that if the FDA requests an onerous trial in the subcutaneous form, it may abandon that project and instead focus on getting the oral dose across the finish line. There are no requirements from partner Progenics (Nasdaq: PGNX) to force Salix to complete work for the sub-Q. Management plans to communicate next steps for the sub-Q after reviewing FDA meeting minutes but may make an earlier announcement on the oral NDA. We already cut chronic pain estimates from our model (potentially prematurely)."

Rivkind's other highlighted points include: 1) Solesta training and marketing is still developing; 2) Barriers to Apriso generic could be significant; and 3) Cautiously optimistic on Crofelemer.

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 $46.00 yesterday.

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