Salix Pharmaceuticals, Ltd. (SLXP) Updates FY14 Earnings Guidance
Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $6.16 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.52, AnalystRatings.NET reports. The company issued revenue guidance of $1.6 billion, compared to the consensus revenue estimate of $1.62 billion.
Several analysts have recently commented on the stock. Analysts at Cantor Fitzgerald upgraded shares of Salix Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday. They now have a $157.00 price target on the stock, up previously from $121.00. On a related note, analysts at Deutsche Bank initiated coverage on shares of Salix Pharmaceuticals in a research note on Tuesday, July 22nd. They set a hold rating and a $139.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Salix Pharmaceuticals from a neutral rating to an outperform rating in a research note on Monday, July 21st. They now have a $158.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $135.60.
Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) traded down 2.96% during mid-day trading on Thursday, hitting $133.55. 1,095,488 shares of the company’s stock traded hands. Salix Pharmaceuticals, Ltd. has a 52 week low of $64.93 and a 52 week high of $141.81. The stock’s 50-day moving average is $131.3 and its 200-day moving average is $113.0. The company has a market cap of $8.468 billion and a price-to-earnings ratio of 116.92.
Salix Pharmaceuticals (NASDAQ:SLXP) last announced its earnings results on Thursday, August 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by $0.10. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $397.06 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 62.3% on a year-over-year basis. On average, analysts predict that Salix Pharmaceuticals, Ltd. will post $6.53 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.