Salix Pharmaceuticals Lowered to Underperform at Merrill Lynch (SLXP)
Salix Pharmaceuticals (NASDAQ:SLXP) was downgraded by research analysts at Merrill Lynch to an “underperform” rating in a report released on Tuesday, American Banking News.com reports.
Shares of Salix Pharmaceuticals (NASDAQ:SLXP) traded down 1.29% on Tuesday, hitting $89.26. The stock had a trading volume of 1,108,696 shares. Salix Pharmaceuticals has a 52-week low of $44.30 and a 52-week high of $92.31. The stock has a 50-day moving average of $86.42 and a 200-day moving average of $74.28. The company has a market cap of $5.614 billion and a price-to-earnings ratio of 53.73.
Salix Pharmaceuticals (NASDAQ:SLXP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.95 earnings per share. The company’s quarterly revenue was up 28.7% on a year-over-year basis. On average, analysts predict that Salix Pharmaceuticals will post $3.22 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. downgraded shares of Salix Pharmaceuticals from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $86.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of Salix Pharmaceuticals from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, December 17th. They now have a $108.00 price target on the stock. Finally, analysts at Janney Montgomery Scott reiterated a “buy” rating on shares of Salix Pharmaceuticals in a research note to investors on Tuesday, November 19th. They now have a $95.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $81.13.
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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