Jefferies Raises PT on Salix Pharmaceuticals to $50
Jefferies & Company has published a research report on Salix Pharmaceuticals (NASDAQ: SLXP) and has raised the price target from $42 to $50.
In the report, Jefferies writes, "Salix just announced what we have been highlighting as a major catalyst for the stock with successful Phase 3 data on oral Relistor. Although the exact numbers were not revealed, we infer that this is a big success by all measures. This gives us much higher confidence that the product can generate revenue in the $500M- $800M range - depending on magnitude of efficacy response."
Jefferies maintains its Buy rating on Salix Pharmaceuticals, which is currently trading up $2.88 from yesterday's $43.24 closing price.
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