Piper Jaffray Comments on Salix Pharmaceuticals

Piper Jaffray has published a research report on Salix Pharmaceuticals SLXP reporting largely positive outcomes. In the report, Piper Jaffray wrote, "A key reason for the weakness in our view, aside from weakness in the broader markets, is a general Street view that Xifaxan in irritable bowel syndrome (IBS) is now at best a long-term opportunity, with the upcoming FDA panel meeting to discuss a design for a retreatment study possibly shining a negative spotlight on Xifaxan's efficacy and resistance profile, potentially raising the risk surrounding continued off-label usage." Piper Jaffray rated Salix Pharmaceuticals an Overweight with a price target of $50.00. Salix Pharmaceuticals closed Tuesday at $28.55.