Seeking Alpha

BofA turns bearish on Salix Pharma

  • BofA cuts Salix Pharmaceuticals (SLXP) to Underperform from Neutral.
  • This is a valuation call. Here's analyst Gregg Gilbert: "With the stock now trading above our PO, which we believe reflects a relatively bullish set of assumptions, we are moving to an Underperform rating."
  • The bullish assumptions: "Stronger performance for the base business, more credit for the late-stage pipeline, and significant contribution from the Santarus acquisition."
  • $86 target maintained.
  • SLXP -1.7% premarket
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Comments (3)
  • jurpsy
    , contributor
    Comments (6) | Send Message
     
    What 's the value & future of Ruconest in this acquisition?
    Nobody speaks about it...
    Any idea?.
    7 Jan 2014, 11:29 AM Reply Like
  • Bronxstu
    , contributor
    Comments (60) | Send Message
     
    Interesting, Stifel gives a buy rating with a price target of 108 on Dec 17. Time will tell
    7 Jan 2014, 01:05 PM Reply Like
  • jurpsy
    , contributor
    Comments (6) | Send Message
     
    I asked Salix twice the same questions, just until now, silence is the answer....
    7 Jan 2014, 03:35 PM Reply Like
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