Today’s Market Runner: What’s Propelling Pernix Therapeutics Holdings Inc to Reach All-Time Low?

Today's Market Runner: What's Propelling Pernix Therapeutics Holdings Inc to Reach All Time Low?

The stock of Pernix Therapeutics Holdings Inc (NASDAQ:PTX) reached all time low today, Oct, 18 and still has $3.34 target or 12.00% below today’s $3.80 share price. This indicates more downside for the $30.77M company. This technical setup was reported by Barchart.com. If the $3.34 PT is reached, the company will be worth $3.69M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 254,627 shares traded hands. Pernix Therapeutics Holdings Inc (NASDAQ:PTX) has declined 66.83% since March 15, 2016 and is downtrending. It has underperformed by 72.31% the S&P500.

Analysts await Pernix Therapeutics Holdings Inc (NASDAQ:PTX) to report earnings on November, 3. They expect $-0.05 EPS, down 162.50% or $0.13 from last year’s $0.08 per share. After $-0.49 actual EPS reported by Pernix Therapeutics Holdings Inc for the previous quarter, Wall Street now forecasts -89.80% EPS growth.

Pernix Therapeutics Holdings Inc (NASDAQ:PTX) Ratings Coverage

Out of 4 analysts covering Pernix Therapeutics (NASDAQ:PTX), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Pernix Therapeutics has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Friday, August 12 by Brean Capital. The firm has “Buy” rating given on Friday, March 11 by Brean Capital. Needham downgraded the stock to “Hold” rating in Friday, March 11 report. The rating was maintained by Needham on Friday, August 7 with “Strong Buy”. The firm has “Buy” rating given on Friday, August 7 by Brean Capital. The company was reinitiated on Wednesday, September 9 by JMP Securities. As per Thursday, March 17, the company rating was downgraded by Oppenheimer. The firm has “Buy” rating given on Tuesday, February 9 by Brean Capital.

According to Zacks Investment Research, “Pernix Therapeutics Holdings Inc., formerly known as Golf Trust of America, Inc., is a specialty pharmaceutical company focused on developing and commercializing pharmaceutical products to meet medical needs primarily in pediatrics. The Company’s product families include Aldex, Pediatex, Z-Cof, Brovex, ReZyst and QuinZyme. Its ALDEX products are indicated for the treatment of allergies and symptoms of the common cold. PEDIATEX TD is for the treatment of respiratory allergies. Z-COF 8DM is for the treatment of allergies and symptoms of the common cold. The BROVEX products are indicated for the treatment of allergies and symptoms of the common cold. REZYST IM is a chewable tablet probiotic indicated to replace active cultures that are destroyed by diet and antibiotics and to reduce symptoms associated with irritable bowel syndrome and various gastrointestinal issues. QUINZYME is a dissolve tablet for patients with depleted ubiquinone levels and for patients on statin therapy. Pernix is based in Magnolia, Texas.”

Insitutional Activity: The institutional sentiment decreased to 0.34 in 2016 Q2. Its down 0.41, from 0.75 in 2016Q1. The ratio worsened, as 38 funds sold all Pernix Therapeutics Holdings Inc shares owned while 21 reduced positions. 8 funds bought stakes while 12 increased positions. They now own 12.25 million shares or 66.36% less from 36.43 million shares in 2016Q1.
Aqr Cap Limited Liability Company holds 0% or 1.44M shares in its portfolio. The California-based First Republic Invest Management has invested 0% in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). Menta Capital Lc holds 0.01% of its portfolio in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 195,136 shares. Wells Fargo & Mn holds 4,751 shares or 0% of its portfolio. Financial Bank Of New York Mellon holds 44,965 shares or 0% of its portfolio. Vanguard holds 0% or 1.84M shares in its portfolio. Moreover, Huntington Savings Bank has 0% invested in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 1,263 shares. Stock Yards Savings Bank & Tru holds 0% or 30,170 shares in its portfolio. Globeflex L P holds 0.03% of its portfolio in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 226,959 shares. The Massachusetts-based Acadian Asset Management Lc has invested 0% in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). Paloma Mngmt last reported 0% of its portfolio in the stock. Blackrock Fund Advsr owns 7,494 shares or 0% of their US portfolio. Moreover, State Street has 0% invested in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 21,619 shares. D E Shaw And Com Inc has invested 0% of its portfolio in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). Ladenburg Thalmann Financial Svcs owns 50 shares or 0% of their US portfolio.

PTX Company Profile

Pernix Therapeutics Holdings, Inc., incorporated on November 8, 1996, is a specialty pharmaceutical company. The Firm 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. The Company’s products include Treximet, indicated for acute migraine; Zohydro ER (hydrocodone bitartrate) with BeadTek, an extended-release opioid agonist indicated for the management of pain severe; Silenor (doxepin) for the treatment of insomnia characterized by difficulty with sleep maintenance, and Khedezla (desvenlafaxine extended-release tablets), for major depressive disorder. The Firm promotes selected non-core branded products, such as its cough and cold products, through co-promotion arrangements with third-party sales organizations, and distributes its generic products through its subsidiaries, Macoven Pharmaceuticals, LLC (Macoven) and Cypress Pharmaceuticals, Inc.

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