Canaccord Genuity Reiterates a 'Buy' on Pernix Therapeutics (PTX); Tough Q1, But Thesis Remains Intact

May 16, 2012 9:20 AM EDT
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Price: $3.23 +15.77%

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Canaccord Genuity reiterates a 'Buy' on Pernix Therapeutics (NYSE: PTX) price target lowered from $15 to $14.00.

Analyst, Randall Stanicky, said, "While Q1 results met a combination of macro headwinds from a light cough and cold season and well-understood softness in Natroba, we think much of the previous stock weakness into the quarter already reflected this. Importantly, the growth story remains intact with the anticipated launch of Omeclamox-Pak (gastroenterology) near-term and an active business development program providing important drivers. Overall, the risk/reward remains favorable and we continue to like PTX on a platform we think will drive robust growth."

For an analyst ratings summary and ratings history on Pernix Therapeutics click here. For more ratings news on Pernix Therapeutics click here.

Shares of Pernix Therapeutics closed at $7.51 yesterday.

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