Piper Jaffray Reiterates Overweight on Salix Pharmaceuticals (SLXP)

Piper Jaffray is out with its report today on Salix Pharmaceuticals SLXP, reiterating Overweight. In a note to clients, Piper Jaffray writes, "With strong sales growth, high Xifaxan gross margins (near 90% for the 550 mg dose), and moderate growth in R&D spend, we continue to see diluted EPS north of $2 in 2011 and with the expansion in IBS, north of $4 next year. We reiterate our Overweight rating and $60 price target." Shares of SLXP closed Monday at $42.37, up 1.32% from Friday's close.