Pernix Therapeutics Holdings Lowered to Underperform at Zacks (PTX)
Pernix Therapeutics Holdings (NYSE:PTX) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Wednesday, Stock Ratings Network reports. They currently have a $2.40 price target on the stock. Zacks‘ target price would suggest a potential downside of 4.38% from the company’s current price.
In other Pernix Therapeutics Holdings news, major shareholder Cooper Collins sold 23,364 shares of Pernix Therapeutics Holdings stock on the open market 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 transaction, 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 SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of other firms have also recently commented on PTX. 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. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.82.
Pernix Therapeutics Holdings (NYSE:PTX) traded down 4.38% on Wednesday, hitting $2.40. 21,590 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 has a 50-day moving average of $2.71 and a 200-day moving average of $3.48. The company’s market cap is $89.1 million.
Pernix Therapeutics Holdings (NYSE:PTX) last issued its quarterly earnings data 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 prior 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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