Sold Salix Pharmaceuticals
I took my profits in Salix Pharmaceuticals (Ticker: SLXP) today @ $156.28 on talk that Valeant (Ticker: VRX) was close to making an offer. I was able to generate a net gain of 2.30% over 4 day period. This was a speculative gamble on my part. It was time to take a quick profit and move on. The merger arb space is fairly quiet right now so just need to be patient so a nice opportunity shows up.
posted by Money Turtle @ 11:49 AM
3 comments
3 Comments:
well done
Are you familiar with Synergy Pharmaceuticals (SGYP)? It has been up lately on reports that they exploring selling of the company. Do you have a good way to evaluate this?
This is hard to evaluate since the value of the company will be based on the phase 3 clinical results for Plecanatide. The phase 2 results look good, but you never know if the phase 3 results will have similar efficacy. I would probably guess that an acquirer will wait for the phase 3 data before making their move. At this stage, it's really just a coin flip...
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