Salix Pharmaceuticals Downgraded by Jefferies Group (SLXP)
Salix Pharmaceuticals (NASDAQ:SLXP) was downgraded by investment analysts at Jefferies Group to a 'buy' rating in a note issued to investors on Friday. They currently have a $103.00 target price on the stock, down from their previous target price of $177.00. Jefferies Group's price objective suggests a potential upside of 12.61% from the company's current price.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of Salix Pharmaceuticals from a 'buy' rating to a 'hold' rating in a research note on Friday. They now have a $185.00 price target on the stock. Separately, analysts at William Blair downgraded shares of Salix Pharmaceuticals from an 'outperform' rating to a 'market perform' rating in a research note on Friday. They now have a $89.00 price target on the stock, down previously from $184.00. Finally, analysts at Mizuho downgraded shares of Salix Pharmaceuticals from a 'buy' rating to a 'neutral' rating in a research note on Friday. They now have a $88.00 price target on the stock, down previously from $195.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. Salix Pharmaceuticals presently has an average rating of 'Buy' and an average price target of $127.32.
Shares of Salix Pharmaceuticals ( NASDAQ:SLXP) traded down 33.98% on Friday, hitting $91.47. 25,846,404 shares of the company's stock traded hands. Salix Pharmaceuticals has a 1-year low of $82.52 and a 1-year high of $172.98. The stock's 50-day moving average is $144.7 and its 200-day moving average is $132.7. The company has a market cap of $5.826 billion and a P/E ratio of 153.43.
Salix Pharmaceuticals (NASDAQ:SLXP) last released its earnings data on Thursday, November 6th. The company reported $1.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.56 by $0.03. The company had revenue of $354.70 million for the quarter, compared to the consensus estimate of $394.00 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company's quarterly revenue was up 48.9% on a year-over-year basis. Analysts expect that Salix Pharmaceuticals will post $6.19 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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