Cantor Fitzgerald Downgrades Salix Pharmaceuticals (SLXP) to Hold
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Price: $172.81 --0%
Rating Summary:
7 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Cantor Fitzgerald downgraded Salix Pharmaceuticals (NASDAQ: SLXP) from Buy to Hold with a price target of $81.00 (from $72.00). Analyst Irina Rivkind thinks the stock is fairly valued.
"We are already giving the company risk-adjusted credit for Xifaxan IBSD, and now added risk-adjusted estimates for Relistor in chronic pain-related opioid-induced constipation (OIC), along with cost-assumptions associated with the company's entry into the primary care space. We also increased our outer year gross margin assumptions to account for the end of the Alfa-Wasserman manufacturing agreement in July 2014. These model changes resulted in a $9 price target increase from $72 to $81. There may be +7% upside remaining, but a downgrade of SLXP from BUY to HOLD is warranted, in our view," said Rivkind.
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 $75.54 yesterday.
"We are already giving the company risk-adjusted credit for Xifaxan IBSD, and now added risk-adjusted estimates for Relistor in chronic pain-related opioid-induced constipation (OIC), along with cost-assumptions associated with the company's entry into the primary care space. We also increased our outer year gross margin assumptions to account for the end of the Alfa-Wasserman manufacturing agreement in July 2014. These model changes resulted in a $9 price target increase from $72 to $81. There may be +7% upside remaining, but a downgrade of SLXP from BUY to HOLD is warranted, in our view," said Rivkind.
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 $75.54 yesterday.
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