Needham & Company Maintains a 'Buy' on Pernix Therapeutics (PTX); Adjusting Estimates After Q4 Results
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Price: $0.21 --0%
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Pernix Therapeutics (NYSE: PTX) price target of $14.00.
Analyst, Elliot Wilbur, said, "4Q11 results came in slightly above our estimates though within ranges specified in the early March preannouncement. Cedax continues to show impressive growth metrics while Natroba, despite having what we view as best-in-class stats, is trailing early expectations. We think 2012 is shaping up to be another year of strong top-line growth, though spending initiatives to support new gastroenterology vertical will likely crimp expectations for another year of robust EPS growth. Despite investment spend acceleration, management has demonstrated solid selection skills in identifying growth levers, and we expect PTX’s low-risk investment model combined with management’s acquisition track record to continue to deliver accelerating ROIC as PTX further exercises its business development acumen."
Needham lowers FY12 EPS estimate from $0.57 to $0.39 and FY13 from $0.90 to $0.78. However, revs get boosted from $73 mln to $78.1 mln, and FY13 from $99.9 mln to $113.2 mln.
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 $9.48 yesterday.
Analyst, Elliot Wilbur, said, "4Q11 results came in slightly above our estimates though within ranges specified in the early March preannouncement. Cedax continues to show impressive growth metrics while Natroba, despite having what we view as best-in-class stats, is trailing early expectations. We think 2012 is shaping up to be another year of strong top-line growth, though spending initiatives to support new gastroenterology vertical will likely crimp expectations for another year of robust EPS growth. Despite investment spend acceleration, management has demonstrated solid selection skills in identifying growth levers, and we expect PTX’s low-risk investment model combined with management’s acquisition track record to continue to deliver accelerating ROIC as PTX further exercises its business development acumen."
Needham lowers FY12 EPS estimate from $0.57 to $0.39 and FY13 from $0.90 to $0.78. However, revs get boosted from $73 mln to $78.1 mln, and FY13 from $99.9 mln to $113.2 mln.
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 $9.48 yesterday.
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