Salix Pharmaceuticals (SLXP) Shares Downgraded to “Market Perform” by JMP Securities Analysts

Salix Pharmaceuticals (NASDAQ: SLXP) was downgraded by JMP Securities to a “market perform” rating in a research note issued on Monday.Separately, analysts at Stifel Nicolaus downgraded shares of Salix Pharmaceuticals from a “buy” rating to a “hold” rating in a research note to investors on Friday. Analysts at Piper Jaffray (NYSE: PJC) raised their price target on shares of Salix Pharmaceuticals to $57.00 in a research note to investors on Wednesday, January 4th. Also, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of Salix Pharmaceuticals to $46.00 in a research note to investors on Friday, December 23rd. They now have a “neutral” rating on the stock.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 opened at 46.11 on Monday. Salix Pharmaceuticals has a one year low of $25.64 and a one year high of $50.28. The stock’s 50-day moving average is $46.48 and its 200-day moving average is $36.5. The company has a market cap of $2.727 billion and a P/E ratio of 35.47.