Salix Pharmaceuticals Reaches New 12-Month High Following Analyst Upgrade (SLXP)
Salix Pharmaceuticals (NASDAQ:SLXP) shares hit a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $131.00 to $151.00, AnalystRatings.NET reports. The company traded as high as $140.83 and last traded at $139.57, with a volume of 3,228,960 shares traded. The stock had previously closed at $123.35.
A number of other firms have also recently commented on SLXP. Analysts at Canaccord Genuity initiated coverage on shares of Salix Pharmaceuticals in a research note on Friday. They set a “buy” rating and a $145.00 price target on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Salix Pharmaceuticals to $130.00 in a research note on Friday, June 13th. Finally, analysts at Stifel Nicolaus raised their price target on shares of Salix Pharmaceuticals from $120.00 to $130.00 in a research note on Friday, June 13th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $120.60.
In other Salix Pharmaceuticals news, CEO Carolyn J. Logan unloaded 53,057 shares of Salix Pharmaceuticals stock on the open market in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $123.38, for a total transaction of $6,546,172.66. The transaction was disclosed in a filing with the SEC, which is available at this link.
The stock’s 50-day moving average is $114.2 and its 200-day moving average is $104.. The company has a market cap of $8.807 billion and a P/E ratio of 104.80.
Salix Pharmaceuticals (NASDAQ:SLXP) last released its 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 $6.52 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.
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