Goldman thinks investors should exercise a bit of caution on Salix Pharmaceuticals (SLXP), even as "Xifaxan IBS and Relistor for non-cancer OIC [present] meaningful opportunities for upside to forecasts." Shares resumed at Neutral (price target is $73).
Look for a Xifaxan IBS-D readout in Q1 2014.
Similarly, Questcor Pharmaceuticals (QCOR) is initiated at Neutral (price target is $71) as "the recent very strong run in the stock and the current valuation [warrant] a more cautious stance on risk/reward for being an aggressive buyer here."
Nevertheless, Goldman is "confident in the continued growth of Acthar by expanding further in new indications." Acthar vial shipments rose 50% Y/Y in Q2.