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Needham & Company Downgrades Pernix Therapeutics (PTX) to Hold

March 10, 2016 5:09 PM EST
Get Alerts PTX Hot Sheet
Price: $0.21 --0%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Needham & Company downgraded Pernix Therapeutics (NASDAQ: PTX) from Buy to Hold.

Analyst Serge Belanger commented, "Late-2015 softness led to a 4Q15 miss and initial 2016 guidance points to continued challenges to growth prospects and the ongoing turnaround strategy. While Zohydro shows signs of promise, both Silenor and Treximet are likely to run in place as increasing Rx volume growth will be required to offset negative gross-to-net adjustments. The limited growth will restrict PTX's ability to delever (current net debt: ~$299) and implement initiatives to re-acclerate growth. We expect PTX to take up residency in the "penalty box" until there are signs of higher sustainable growth and/or an outcome from ongoing strategic alternative explorations."

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 $2.28 yesterday.



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