Insider Selling: Pernix Therapeutics Holdings Major Shareholder Unloads 23,364 Shares of Stock (PTX)
Pernix Therapeutics Holdings (NYSE:PTX) major shareholder Cooper Collins sold 23,364 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $2.47, for a total transaction of $57,709.08. Following the completion of the sale, the insider now directly owns 6,540,046 shares in the company, valued at approximately $16,153,914. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of analysts have recently weighed in on PTX shares. Analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Pernix Therapeutics Holdings in a research note to investors on Tuesday, October 1st. They now have a $2.00 price target on the stock, down previously from $2.50. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Pernix Therapeutics Holdings currently has a consensus rating of “Hold” and a consensus target price of $5.30.
Pernix Therapeutics Holdings (NYSE:PTX) remained flat at $2.51 during during mid-day trading trading on Tuesday. 35,018 shares of the company’s stock traded hands. Pernix Therapeutics Holdings has a 52-week low of $2.21 and a 52-week high of $8.70. The stock’s 50-day moving average is $2.7 and its 200-day moving average is $3.5. The company’s market cap is $93.2 million.
Pernix Therapeutics Holdings (NYSE:PTX) last announced its earnings results on Friday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.03. The company had revenue of $20.60 million for the quarter, compared to the consensus estimate of $20.82 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. Analysts expect that Pernix Therapeutics Holdings will post $-0.51 EPS for the current fiscal year.
Pernix Therapeutics Holdings, Inc (NYSE:PTX) is a specialty pharmaceutical company focused on the sales, marketing and development of branded and generic pharmaceutical products for pediatric and adult indications in a range of therapeutic areas.
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