Insider Selling: Salix Pharmaceuticals CFO Sells 30,001 Shares of Stock (SLXP)
Salix Pharmaceuticals (NASDAQ:SLXP) CFO Adam C. Derbyshire sold 30,001 shares of the company’s stock in a transaction that occurred on Thursday, January 9th. The stock was sold at an average price of $91.48, for a total transaction of $2,744,491.48. Following the completion of the sale, the chief financial officer now directly owns 179,395 shares in the company, valued at approximately $16,411,055. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SLXP. 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, January 7th. 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, January 7th. 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 assigned a buy rating to the company. Salix Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $82.75.
Salix Pharmaceuticals (NASDAQ:SLXP) traded up 2.00% during mid-day trading on Monday, hitting $95.49. The stock had a trading volume of 1,712,738 shares. Salix Pharmaceuticals has a 52-week low of $45.35 and a 52-week high of $97.22. The stock’s 50-day moving average is $87.29 and its 200-day moving average is $75.27. The company has a market cap of $6.006 billion and a price-to-earnings ratio of 55.63.
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. Analysts expect that Salix Pharmaceuticals will post $3.22 EPS 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.
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