Fly News Breaks for March 16, 2015
SLXP, PGNX, VRX
Mar 16, 2015 | 12:18 EDT
Brean Capital believes the Relistor SI royalty loss seen by Progenics (PGNX) is due to Salix’s (SLXP) accelerated wholesaler inventory reductions and should be transient. The firm also said it views Salix’s potential merger with Valeant (VRX) as a positive for Relistor. The firm has a Buy rating and $11 price target on Progenics and recommends investors buy today's dip in the shares, which are down nearly 12% in midday trading.
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