Canaccord Genuity Reiterates a 'Buy' on Pernix Therapeutics (PTX); Management Execution on Business Development Strategy Continues
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Price: $0.21 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 9 | New: 16
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 9 | New: 16
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Canaccord Genuity reiterates a 'Buy' on Pernix Therapeutics (NYSE: PTX) price target of $15.00.
Analyst, Randall Stanicky, said, "Pernix announced an agreement with a private company to license a new FDA-approved un-named gastroenterology (GI) product in the US on a royalty-based fee structure with a $2M up-front payment and $2M payment upon commercial launch. We expect the launch mid year with a specialized sales force build, with more details likely closer to launch. The move to further broaden the therapeutic footprint is consistent with both company strategy and our expectations and a further endorsement of management’s commitment to pursue business development to grow the platform. Track record thus far has been solid, and we anticipate continued activity ahead."
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 $10.20 yesterday.
Analyst, Randall Stanicky, said, "Pernix announced an agreement with a private company to license a new FDA-approved un-named gastroenterology (GI) product in the US on a royalty-based fee structure with a $2M up-front payment and $2M payment upon commercial launch. We expect the launch mid year with a specialized sales force build, with more details likely closer to launch. The move to further broaden the therapeutic footprint is consistent with both company strategy and our expectations and a further endorsement of management’s commitment to pursue business development to grow the platform. Track record thus far has been solid, and we anticipate continued activity ahead."
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 $10.20 yesterday.
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