Brean Murray Carret: Nearer Term Positive Catalysts Understated for Salix Pharmaceuticals
According to a research report published today by Brean Murray Carret, Salix Pharmaceuticals (NASDAQ: SLXP) has not been shy about acquiring additional drugs in an effort to diversify itself in the market.
In the report, Brean Murray Carret said, “We view IBS-D approval to be a low risk proposition given investigator sponsored trials showing retreatment success and the drug's proven clean safety profile. We believe that the first positive catalyst will come when Salix starts its retreatment trial and at the same time defines what we believe will be a trial size and duration that can be completed within 2 years, including the time required to gain approval.”
Brean Murray Carret reiterates its Buy rating and $57 PT on Salix Pharmaceuticals, which closed Friday at $48.18.
