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Stock Market & Financial Investment News

News Breaks
May 27, 2014
09:24 EDTSLXPSalix should be bought ahead of catalysts, says Sterne Agee
Sterne Agee believes that the upcoming FDA Advisory Committee on Relistor, scheduled for June 11-12, and the TARGET 3 clinical trial data on Xifaxan, expected in early July, provide important near-term catalysts for Salix. The firm recommends that investors buy Salix ahead of these events. It increased its price target on the stock to $130 from $126.
News For SLXP From The Last 14 Days
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January 21, 2015
12:30 EDTSLXPGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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January 20, 2015
14:31 EDTSLXPSalix climbs after Reuters says strategic options being explored
Shares of Salix Pharmaceuticals (SLXP) are jumping after Reuters reported that the company is working with investment bank Centerview Partners to explore strategic options, including a possible sale to a larger peer. On January 6, Cantor and Piper Jaffray wrote that the retirement of the company's CEO increased the chances that it would look to sell itself. Salix develops treatments for bowel disorders. WHAT'S NEW: Salix has hired Centerview Partners to help it explore various options, including a possible sale to a larger drug maker, Reuters reported this afternoon, citing three unnamed sources. However, Salix has not determined if it will look to sell itself now or wait until it hires a new CEO, the news service added. ANALYST VIEW: On January 6, after Salix announced that its CEO would retire, Cantor analyst Irina Koffler wrote that the retirement could "pave the way" for a sale of the company. The analyst wrote that "all options could be on the table." She raised her price target on the stock to $145 from $127 and kept a Buy rating on Salix shares. Similarly, Piper Jaffray analyst David Amsellem wrote that the CEO's departure, combined with the company's announcement last month of an accelerated workdown of its inventory levels, sets the stage for an eventual sale of the company. There would be "ample interest" in acquiring the company, added the analyst, who kept a $130 price target and Overweight rating on the shares. PRICE ACTION: In mid-afternoon trading, Salix jumped about 5% to trade near $126 per share.
14:23 EDTSLXPSalix calls active on exploring options report
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14:13 EDTSLXPSalix exploring options, including potential sale, Reuters reports
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13:48 EDTSLXPSalix exploring options with help of Centerview, Reuters reports

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