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Stock Market & Financial Investment News

News Breaks
February 5, 2014
07:00 EDTFURX, SLXPFurex drug should not be seen as threat to Salix, says Piper Jaffray
Piper Jaffray believes Furiex's (FURX) receptor antagonist eluxadoline in diarrhea-predominant irritable bowel syndrome should not be seen as a threat to Salix's (SLXP) Xifaxan in IBS-D. Piper says eluxdaoline and Xifaxan are mechanistically very different and will be used differently. The firm views Salix as attractive and reiterates an Overweight rating on the stock with a $106 price target.
News For SLXP;FURX From The Last 14 Days
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October 21, 2014
07:07 EDTSLXPSalix to present results of TARGET 3 study with Rifaximin 550mg for IBS
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October 16, 2014
15:10 EDTSLXPAmerican College of Gastroenterology to hold annual meeting
ACG Annual Scientific Meeting 2014 to be held in Philadlephia, PA on October 17-22.
October 9, 2014
11:14 EDTSLXPAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
08:50 EDTSLXPAllergan shares have further upside, says Wells Fargo
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October 8, 2014
08:42 EDTSLXPSalix shares should be bought on weakness, says Sterne Agee
After Reuters yesterday afternoon reported that Actavis (ACT) plans to make a new merger approach to Allergan (AGN), Sterne Agee believes that Salix's standalone value is $162. The firm expects the shares to reach that level following approval of its Xifaxan IBS-D drug after the February 2015 PDUFA date.
08:31 EDTSLXPSalix announces FDA granted final approval for UCERIS
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06:23 EDTSLXPActavis more inclined to pursue Allergan over Salix, says Citigroup
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