Cantor Fitzgerald Starts Pernix Therapeutics (PTX) at Buy, Stocks Undervalued Based on Pipeline Outlook
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Price: $0.21 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
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Cantor Fitzgerald initiates coverage on shares of Pernix Therapeutics (NYSE: PTX) with a Buy rating and $15 price target.
The firm believes shares of PTX are extremely undervalued as investors don't give the company's pipeline the credit it deserves. The firm notes, although the launch of Natroba is slightly slower than first expected, they anticipate a pick up during the summer months.
The company's Cedax continues to perform on pace with management's expectations and the firm highlights the company has exclusive access to its active pharmaceutical ingredient until 2018.
An analyst at Cantor Fitzgerald comments, "While the company has demonstrated its capability to resuscitate under-promoted brands, we believe that new launches remain challenging. Management has recently hired a new VP of Sales and Marketing who we think can remedy these issues."
For FY11, Cantor Fitzgerald estimates EPS of $0.29 on $58.3 million in sales. The firm also estimates EPS of $0.41 on $78.7 million in sales for FY12.
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 $9.59 yesterday.
The firm believes shares of PTX are extremely undervalued as investors don't give the company's pipeline the credit it deserves. The firm notes, although the launch of Natroba is slightly slower than first expected, they anticipate a pick up during the summer months.
The company's Cedax continues to perform on pace with management's expectations and the firm highlights the company has exclusive access to its active pharmaceutical ingredient until 2018.
An analyst at Cantor Fitzgerald comments, "While the company has demonstrated its capability to resuscitate under-promoted brands, we believe that new launches remain challenging. Management has recently hired a new VP of Sales and Marketing who we think can remedy these issues."
For FY11, Cantor Fitzgerald estimates EPS of $0.29 on $58.3 million in sales. The firm also estimates EPS of $0.41 on $78.7 million in sales for FY12.
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 $9.59 yesterday.
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