Pernix Therapeutics (PTX) Bullish Stance Reiterated at Needham & Company on Deal Closing

Needham & Company analyst Elliot Wilbur reiterated a Strong Buy rating and $10 price target on Pernix Therapeutics (NASDAQ: PTX) price target of $10.00 after the company announced the close of the acquisition Treximet, which he calls "a significant inflection point in the evolution of Pernix under CEO Doug Drysdale."

"While, in our minds, closing the deal was the quintessential "no brainer", modest timeline slippage around the close coupled with heightened concerns around pharma pricing leverage apparently clearly injected more deal risk into the shares than we had expected, potentially at least partially explaining today's move on seemingly routine news flow," Wilbur comments.

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 $7.01 yesterday.

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