UPDATE: Sterne Agee Reiterates On Salix Pharmaceuticals Ahead Of FDA Panel Vote

Loading...
Loading...
In a report published Thursday, Sterne Agee analyst Shibani Malhotra reiterated a Buy rating on
Salix Pharmaceuticals Ltd.SLXP
, and raised the price target from $126.00 to $130.00. In the report, Sterne Agee noted, “We reiterate our Buy thesis on SLXP in front of the FDA panel vote, expected later this afternoon, regarding the use of Relistor as a possible treatment for opioid-induced constipation. A path to development can add around $6 to our fair value of $130 for SLXP, while a negative outcome should have little impact given the minimal expectations going into this event. We are more focused on the data from TARGET III for Xifaxan in IBS-D (early July) as a meaningful positive catalyst for the stock.” Salix Pharmaceuticals Ltd. closed on Wednesday at $113.42.
Posted In: Analyst ColorPrice TargetAnalyst RatingsShibani MalhotraSterne Agee
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...