Worth Watching: What’s Pernix Therapeutics Holdings Inc Downside After Achieving Yearly Low?

Worth Watching: What's Pernix Therapeutics Holdings Inc Downside After Achieving Yearly Low?

The stock of Pernix Therapeutics Holdings Inc (NASDAQ:PTX) hit a new 52-week low and has $3.44 target or 11.00% below today’s $3.86 share price. The 7 months bearish chart indicates high risk for the $31.25 million company. The 1-year low was reported on Oct, 18 by Barchart.com. If the $3.44 price target is reached, the company will be worth $3.44 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 205,134 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. $14 is the highest target while $5 is the lowest. The $7.67 average target is 98.70% above today’s ($3.86) stock price. Pernix Therapeutics has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The stock of Pernix Therapeutics Holdings Inc (NASDAQ:PTX) has “Buy” rating given on Friday, August 7 by Brean Capital. The firm earned “Hold” rating on Friday, March 11 by Needham. Brean Capital maintained Pernix Therapeutics Holdings Inc (NASDAQ:PTX) on Friday, March 11 with “Buy” rating. Needham maintained it with “Strong Buy” rating and $10 target price in Friday, August 7 report. The company was downgraded on Friday, August 12 by Brean Capital. The firm earned “Buy” rating on Tuesday, February 9 by Brean Capital. The firm has “Market Outperform” rating given on Wednesday, September 9 by JMP Securities. On Thursday, March 17 the stock rating was downgraded by Oppenheimer to “Perform”.

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.
Highland Cap Mngmt Limited Liability Corporation holds 41,000 shares or 0% of its portfolio. Aisling Ltd Company has 0.21% invested in the company for 2.01M shares. The Massachusetts-based Acadian Asset Mngmt Limited Liability Corp has invested 0% in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). The Ontario – Canada-based State Bank Of Montreal Can has invested 0% in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). Moreover, Bridgeway Cap Mgmt has 0% invested in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 29,000 shares. Wells Fargo Mn, a California-based fund reported 4,751 shares. Evercore Wealth Mgmt Ltd Limited Liability Company accumulated 0% or 48 shares. Nelson Van Denburg & Campbell Wealth Mngmt Gru Ltd has 700 shares for 0% of their US portfolio. Credit Suisse Ag holds 0% of its portfolio in Pernix Therapeutics Holdings Inc (NASDAQ:PTX) for 160,687 shares. Globeflex Cap L P has invested 0.03% of its portfolio in Pernix Therapeutics Holdings Inc (NASDAQ:PTX). Paloma Prns owns 164,363 shares or 0% of their US portfolio. Manufacturers Life Insurance The holds 0% or 1,037 shares in its portfolio. Balyasny Asset Management Ltd Limited Liability Company holds 11,700 shares or 0% of its portfolio. Tower Cap Ltd Liability Company (Trc) accumulated 14,691 shares or 0% of the stock. Deutsche National Bank Ag has 1 shares for 0% of their US portfolio.

Pernix Therapeutics Holdings, Inc. is a specialty pharmaceutical company. The company has a market cap of $31.25 million. The Firm focuses on identifying, developing and commercializing differentiated products that address unmet medical needs. It currently has negative earnings. It focuses on underserved therapeutic areas, such as central nervous system , including neurology and psychiatry, as well as other specialty therapeutic areas.

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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