Janney Montgomery Scott upgraded shares of Salix Pharmaceuticals (NASDAQ:SLXP) from a neutral rating to a buy rating in a research note released on Friday morning, TheFlyOnTheWall.com reports. They currently have $95.00 target price on the stock, up from their previous target price of $60.00.
Salix Pharmaceuticals (NASDAQ:SLXP) opened at 85.23 on Friday. Salix Pharmaceuticals has a 52 week low of $39.12 and a 52 week 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 $5.256 billion and a P/E ratio of 69.80.
Salix Pharmaceuticals (NASDAQ:SLXP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the analysts’ 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 in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts predict that Salix Pharmaceuticals will post $3.24 earnings per share for the current fiscal year.
SLXP has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Salix Pharmaceuticals from an outperform rating to a neutral rating in a research note to investors on Tuesday, September 17th. They now have a $71.00 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Salix Pharmaceuticals in a research note to investors on Tuesday, September 17th. They set a neutral rating and a $73.00 price target on the stock. Finally, analysts at Leerink Swann upgraded shares of Salix Pharmaceuticals from a market perform rating to an outperform rating in a research note to investors on Monday, September 9th. They now have a $80.00 price target on the stock, up previously from $71.00. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Salix Pharmaceuticals presently has an average rating of Buy and an average price target of $78.86.
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.
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