Zacks Investment Research Analysts Reiterate an “Outperform” Rating on Salix Pharmaceuticals (SLXP)

Salix Pharmaceuticals (NASDAQ: SLXP)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Zacks Investment Research in a research note issued to investors on Thursday. The analysts currently have a $43.00 price target on the stock.Zacks’ analyst wrote, “Salix’ third quarter results exceeded expectations with higher revenues boosting performance. With the company raising its revenue guidance, we have raised our estimates as well. Salix is well-positioned for growth in the gastrointestinal market. We believe lead product, Xifaxan, will continue to experience solid, above-market trend growth given its safety profile and lack of systemic absorption. We were pleased to see Xifaxan gain approval for the hepatic encephalopathy indication as we believe that the main potential for Salix lies in gaining approval for additional indications for Xifaxan. Meanwhile, we are pleased to see the company expanding its pipeline through in-licensing deals and acquisitions. We expect the company to continue pursuing suitable in-licensing opportunities in order to grow revenues. We believe the current price represents an attractive entry point for long-term investors and maintain our Outperform recommendation on the stock.”Separately, analysts at Piper Jaffray (NYSE: PJC) reiterated an “overweight” rating on shares of Salix Pharmaceuticals in a research note to investors on Thursday, November 17th. They now have a $51.00 price target on the stock. Analysts at Jefferies reiterated a “buy” rating on shares of Salix Pharmaceuticals in a research note to investors on Monday, November 14th. They now have a $42.00 price target on the stock. Also, analysts at Auriga raised their price target on shares of Salix Pharmaceuticals to $34.00 in a research note to investors on Thursday, November 10th.Salix Pharmaceuticals, Ltd. is a pharmaceutical company engaged in acquiring, developing and commercializing prescription drugs used in the treatment of a variety of gastrointestinal disorders, which are those affecting the digestive tract. As of December 31, 2010, the Company’s products include XIFAXAN, MOVIPREP, OSMOPREP, VISICOL, APRISO, METOZOLV, AZASAN, ANUSOL-HC, PROCTOCORT, PEPCID, Oral Suspension DIURIL and COLAZAL. As of December 31, 2010, the Company’s primary product candidates under development include Rifaximin, Crofelemer, Balsalazide disodium tablet and Budesonide foam. In February 2011, the Company acquired the license to develop and commercialize the products containing methylnaltrexone (MNTX) Compound, marketed under the name RELISTOR, from Progenics Pharmaceuticals, Inc.Shares of Salix Pharmaceuticals traded down 0.95% during mid-day trading on Thursday, hitting $35.51. Salix Pharmaceuticals has a 52 week low of $25.64 and a 52 week high of $49.05. The stock’s 50-day moving average is $33.80 and its 200-day moving average is $34.56. The company has a market cap of $2.100 billion and a price-to-earnings ratio of 27.58.