Salix Pharmaceuticals stock was rated as a “Buy” by a Wall Street analysis firm on Thursday, but its stock closed down 5 cents, to $11.59.
Salix is involved in a hostile takeover fight with Axcan Pharmaceuticals of Canada. Axcan is offering $10.50 a share.
Roth Capital, initiating coverage of Salix, targeted the stock at $15 a share.
The news came after Salix cited growing sales of its Colazal drug for ulcerative colitis.
Roth also cited pending FDA approval of another drug, Rifaximin, as well as a “highly competent sales, marketing, and new product development infrastructure in place to drive growth.”
Salix: www.salix.com
