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Can Salix Pharmaceuticals (SLXP) Run Higher on Strong Earnings Estimate Revisions?

Salix Pharmaceuticals Ltd. (SLXP) is a developer of prescription drugs and medical devices that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SLXP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Salix Pharmaceuticals could be a solid choice for investors.

Current Quarter Estimates for SLXP

The trend has been pretty favorable, with estimates increasing from 22 cents a share 30 days ago, to 56 cents per share today, a significant move of over 100%.

Current Year Estimates for SLXP

Meanwhile, Salix Pharmaceuticals’s current year figures are also looking quite promising. The consensus estimate trend has seen a boost for this time frame, narrowing from a loss of $1.45 per share 30 days ago to a loss of $1.19 per share today, an increase of 18%.

Bottom Line

The stock has also started to move higher lately, adding 9.06% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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SALIX PHARMACEUTICALS LTD (SLXP): Free Stock Analysis Report


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