Zacks reiterated their neutral rating on shares of Salix Pharmaceuticals (NASDAQ:SLXP) in a research report released on Monday morning, AnalystRatings.NET reports. Zacks currently has a $88.00 price objective on the stock.
Zacks’ analyst wrote, “Salix posted third quarter 2013 EPS of $0.80, above the year-ago EPS of $0.69. Third quarter EPS missed the Zacks Consensus Estimate of $0.95. Revenues increased 29% to $238.2 million, in-line with the Zacks Consensus Estimate. We are positive on Salix’ intention to acquire Santarus. This acquisition will expand Salix’ product portfolio as well as pipeline and strengthen its position in the gastrointestinal market. With the addition of marketed products like Uceris, Glumetza and Zegerid, Salix’ product offering and revenue base will be diversified. The Santarus acquisition should be significantly accretive in 2014. Additional synergies will lead to higher EPS accretion in 2015. We expect investor focus to remain on updates on Relistor, data from TARGET-3 and the Santarus acquisition. “
Zacks has also updated their ratings on a number of other healthcare stocks in the last week. The firm upgraded shares of Pernix Therapeutics Holdings Inc. from an underperform rating to a neutral rating. The firm now has a $2.00 price target on that stock. Also, Zacks reiterated its neutral rating on shares of Hospira Inc.. They have a $43.00 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of Zoetis Inc.. They have a $33.00 price target on that stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Mizuho raised their price target on shares of Salix Pharmaceuticals from $85.00 to $101.00 in a research note to investors on Monday. They now have a buy rating on the stock. Separately, analysts at Brean Capital raised their price target on shares of Salix Pharmaceuticals from $76.00 to $90.00 in a research note to investors on Friday. They now have a buy rating on the stock. Finally, analysts at Janney Montgomery Scott upgraded shares of Salix Pharmaceuticals from a neutral rating to a buy rating in a research note to investors on Friday. They now have a $95.00 price target on the stock, up previously from $60.00. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $78.86.
Shares of Salix Pharmaceuticals (NASDAQ:SLXP) traded down 0.48% during mid-day trading on Monday, hitting $84.82. The stock had a trading volume of 1,056,752 shares. Salix Pharmaceuticals has a 1-year low of $39.12 and a 1-year high of $86.18. The stock’s 50-day moving average is $71.50 and its 200-day moving average is $66.91. The company has a market cap of $5.231 billion and a P/E ratio of 69.80.
Salix Pharmaceuticals (NASDAQ:SLXP) last announced its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $238.20 million for the quarter, compared to the consensus estimate of $239.70 million. During the same quarter last year, the company posted $0.95 earnings per share. Salix Pharmaceuticals’s revenue was up 28.7% compared to the same quarter last year. On average, analysts predict that Salix Pharmaceuticals will post $3.23 earnings per share for the current fiscal year.
Salix Pharmaceuticals, Ltd. is a specialty pharmaceutical company dedicated to acquiring, developing and commercializing prescription drugs and medical devices used in the treatment of a variety of gastrointestinal disorders, which are those affecting the digestive tract.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.