Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Shares of Pernix Therapeutics Holdings (NASDAQ:PTX) traded down 0.26% on Friday, hitting $3.85. 75,007 shares of the stock traded hands. Pernix Therapeutics Holdings has a 12-month low of $0.40 and a 12-month high of $7.15. The firm’s market cap is $38.56 million. The firm’s 50-day moving average is $4.43 and its 200 day moving average is $3.62.

Pernix Therapeutics Holdings (NASDAQ:PTX) last released its quarterly earnings results on Monday, May 15th. The specialty pharmaceutical company reported ($2.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.80) by $1.86. The company had revenue of $29.74 million for the quarter. Equities research analysts forecast that Pernix Therapeutics Holdings will post ($3.70) EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in PTX. Renaissance Technologies LLC increased its stake in Pernix Therapeutics Holdings by 6.9% in the first quarter. Renaissance Technologies LLC now owns 740,650 shares of the specialty pharmaceutical company’s stock worth $2,740,000 after buying an additional 47,700 shares during the last quarter. California Public Employees Retirement System bought a new stake in Pernix Therapeutics Holdings during the first quarter worth $163,000. Finally, Bank of New York Mellon Corp increased its stake in Pernix Therapeutics Holdings by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 31,710 shares of the specialty pharmaceutical company’s stock worth $118,000 after buying an additional 6,907 shares during the last quarter. 17.34% of the stock is owned by institutional investors and hedge funds.

Pernix Therapeutics Holdings Company Profile

Pernix Therapeutics Holdings, Inc is a specialty pharmaceutical company. The Company focuses on identifying, developing and commercializing differentiated products that address unmet medical needs. It focuses on underserved therapeutic areas, such as central nervous system (CNS), including neurology and psychiatry, as well as other specialty therapeutic areas.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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