Share on StockTwits

Sterne Agee lifted their target price on shares of Salix Pharmaceuticals (NASDAQ:SLXP) from $126.00 to $130.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the stock. Sterne Agee’s price objective would indicate a potential upside of 13.86% from the company’s current price.

The analysts wrote, “The upcoming FDA Advisory Committee on Relistor (scheduled for June 11-12) and the TARGET 3 clinical trial data on Xifaxan expected in early July provide important near-term catalysts for SLXP. We recommend that investors buy SLXP in front of these events. We are adjusting our 2014/2015 EPS estimates to $6.42/$8.12 from $6.90/$8.58 and raising our price target to $130 from $126.”

SLXP has been the subject of a number of other recent research reports. Analysts at Cantor Fitzgerald raised their price target on shares of Salix Pharmaceuticals from $112.00 to $115.00 in a research note on Thursday, May 22nd. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Salix Pharmaceuticals in a research note on Thursday, May 15th. They now have a $133.00 price target on the stock. Finally, analysts at Leerink Swann reiterated an “outperform” rating on shares of Salix Pharmaceuticals in a research note on Wednesday, May 14th. They now have a $128.00 price target on the stock, up previously from $126.00. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.85.

Salix Pharmaceuticals (NASDAQ:SLXP) traded up 0.26% during mid-day trading on Tuesday, hitting $114.48. 665,563 shares of the company’s stock traded hands. Salix Pharmaceuticals has a one year low of $59.50 and a one year high of $120.00. The stock’s 50-day moving average is $106.6 and its 200-day moving average is $98.66. The company has a market cap of $7.259 billion and a price-to-earnings ratio of 97.01.

Salix Pharmaceuticals (NASDAQ:SLXP) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.91 by $0.14. The company had revenue of $384.00 million for the quarter, compared to the consensus estimate of $372.91 million. During the same quarter last year, the company posted $0.63 earnings per share. Salix Pharmaceuticals’s revenue was up 89.7% compared to the same quarter last year. On average, analysts predict that Salix Pharmaceuticals will post $6.51 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.

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.