Insider Selling: Salix Pharmaceuticals EVP Unloads 8,000 Shares of Stock (SLXP)
Salix Pharmaceuticals (NASDAQ:SLXP) EVP William Forbes sold 8,000 shares of the stock on the open market in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $90.06, for a total transaction of $720,480.00. Following the completion of the sale, the executive vice president now directly owns 81,573 shares of the company’s stock, valued at approximately $7,346,464. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Salix Pharmaceuticals (NASDAQ:SLXP) traded up 2.21% on Friday, hitting $93.62. The stock had a trading volume of 855,540 shares. Salix Pharmaceuticals has a 1-year low of $45.35 and a 1-year high of $92.31. The stock’s 50-day moving average is $86.71 and its 200-day moving average is $74.69. The company has a market cap of $5.888 billion and a price-to-earnings ratio of 54.43.
Salix Pharmaceuticals (NASDAQ:SLXP) last posted its quarterly earnings results 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.
SLXP has been the subject of a number of recent research reports. Analysts at UBS AG raised their price target on shares of Salix Pharmaceuticals from $68.00 to $94.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Merrill Lynch downgraded shares of Salix Pharmaceuticals to an “underperform” rating in a research note to investors on Tuesday. Finally, 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $82.75.
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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