Salix Pharmaceuticals stock was downgraded by Roth Capital on Friday after announcing the acquisition of two drugs from King Pharmaceuticals the previous day.
Salix (Nasdaq: SLXP) closed down 93 cents to $31.89.
Roth lists Salix as a “Buy”, down from “Strong Buy”. It had upgraded the stock on June 7.
C.E. Unterberg Towbin upgraded Salix to “Buy” from “Market Perform” on June 17.
Salix announced a 3-for-2 stock split on June 21, and on June 29 announced agreements to expand sales of its intestinal drug Colazal in Australia, New Zealand and Puerto Rico.