Needham & Company Starts Pernix Therapeutics (PTX) at Buy; Kid is Hot Tonight; Hitting Stride as Recent Launches Provide Leverage

Needham & Company initiates coverage on Pernix Therapeutics (NYSE: PTX) with a Buy. PT $14.00.

Needham analyst says, "Through M&A, licensing and co-promotion agreements, Pernix has built a portfolio of cough/cold products and antibiotics that has led to consistent outsized growth in revenue (3-yr CAGR>30%) and EBITDA (3-yr CAGR >50%). Recent acquisitions, incl. Cedax (antibiotic), Macoven (generic subsidiary) and Natroba (head lice), are expected to continue fueling future growth. Pernix now plans to further exercise its business development acumen in an effort to further diversify and broaden its product offerings. We believe this growth strategy will generate additional revenues and also serve to diversify risk and eventually reduce the volatility in bottom-line financials."

For more ratings news on Pernix Therapeutics click here and for the rating history of Pernix Therapeutics click here.

Shares of Pernix Therapeutics closed at $8.80 yesterday.

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