Pernix Therapeutics (PTX) Shares Spike - Acquires Great Southern Labs and Looking For More

July 3, 2012 10:22 AM EDT
Get Alerts PTX Hot Sheet
Price: $0.42 --0%

Rating Summary:
    7 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Shares of Pernix Therapeutics (NYSE: PTX) are up trading higher this morning, maybe with help from Canaccord Genuity comments. The stock has been on a little bit of a rally, gaining over 13% in the past five trading sessions.

Canaccord analyst, Randall Stanicky, reiterated his 'Buy' rating this morning with a $14 price target.

Stanicky sees PTX staying active in with tuck-in acquisitions, citing the recent announcement PTX bought Great Southern Labs for $4.9 million. PTX has a diverse revenue stream and $39 million in the bank, so expect the company to remain active on the business development front.

The stock is currently trading at $7.77...the 52-wk trading range is $5.90-11.50. However, volume is relatively light.

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