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Shares of Salix Pharmaceuticals Have Risen Above Previous 52-Week High

Published on Thu, 07/11/2013 - 18:13
By Peter Chu

Shares of Salix Pharmaceuticals (NASDAQ:SLXP) traded at a new 52-week high today of $69.66. This new high was reached on below average trading volume as 357,000 shares traded hands, while the average 30-day volume is approximately 600,000 shares.

Salix Pharmaceuticals (NASDAQ:SLXP) is currently priced 13.9% above its average consensus analyst price target of $59.39. Salix Pharmaceuticals shares have support at the 50-day moving average (MA) of $61.69 and additional support at the 200-day MA of $49.25.

In the past 52 weeks, Salix Pharmaceuticals share prices have been bracketed by a low of $37.52 and a high of $69.66 and are now at $69.02, 84% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.8%.

Salix Pharmaceuticals, Ltd. develops and markets prescription pharmaceutical products for the treatment of gastrointestinal diseases. The Company's COLAZAL product is an anti-inflammatory drug used for the treatment of mildly to moderately active ulcerative colitis.

By Peter Chu