TMCnet News
Downgrade Alert for Salix Pharmaceuticals (SLXP)May 10, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Salix Pharmaceuticals (NASDAQ:SLXP) was downgraded from Buy to Neutral at Janney Montgomery today. The stock closed yesterday at $54.35 on volume of 323,000 shares, below average daily volume of 512,000. Salix Pharmaceuticals has overhead space with shares priced $54.16, or 2.4% below the average consensus analyst price target of $55.50. Salix Pharmaceuticals shares have support at the 50-day moving average (MA) of $50.40 and additional support at the 200-day MA of $45.47. Salix Pharmaceuticals, Ltd. develops and markets prescription pharmaceutical products for the treatment of gastrointestinal diseases. The Company's COLAZAL product is an anti-inflammatory drug used for the treatment of mildly to moderately active ulcerative colitis. In the past 52 weeks, Salix Pharmaceuticals share prices have been bracketed by a low of $37.52 and a high of $55.99 and closed yesterday at $54.16, 44% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%. SmarTrend recommended that subscribers consider buying shares of Salix Pharmaceuticals on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.64. Since that recommendation, shares of Salix Pharmaceuticals have risen 27.0%. We continue to monitor SLXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |