Mizuho Raises Price Target For Salix Pharmaceuticals

In a report released Tuesday, Mizuho analyst Mario Corso increased the firm's price target on Salix Pharmaceuticals (NASDAQ: SLXP) by 15 percent from $131 to $151.

Analysts at Mizuho are bullish on Xifaxan IBS top line data, anticipating approval in the first half of 2015. Salix's Xifaxan was measured as statistically significant, in a study measuring response rates compared to placebo.

Two more drugs targets are in stage for an NDA re-submission in the next few weeks and approval is projected for the first half of 2015.

Shares of Salix are trading up 11.4 percent at $137.40 in Tuesday's session.