UPDATE: Brean Capital Downgrades Pernix Therapeutics (PTX) to Hold
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) in Advanced Talks to Acquire B/E Aerospace (BEAV) - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - August 12, 2016 10:35 AM EDT)
Brean Capital downgraded Pernix Therapeutics (NASDAQ: PTX) from Buy to Hold and removed its price target. The change followed the release of Q2 results. Analyst Difei Yang said the pathway to sustainable revenue growth and profitability is unclear.
"Pernix missed on revenue yesterday, $36.8 mil vs. Street’s $40.3 mil, but approximately met consensus estimates on GAAP EPS of ($0.47). We are disappointed about the halting of progress on the sNDA of Treximet and believe the extended life would have benefited the company. Pernix sold $12.4 million during Q2, and it is possible an additional dilutive capital raise lies ahead. We will move to the sidelines and downgrade our rating to Hold from Buy," said Yang.
Shares of Pernix Therapeutics closed at $0.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- SunTrust Raises Price Target on E*TRADE Financial (ETFC) to $31 Following Solid 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesBrean Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!