Needham & Company Maintains a 'Buy' on Pernix Therapeutics (PTX); Upside Scenarios Outweigh Downside Risks

Needham & Company maintains a 'Buy' on Pernix Therapeutics (NYSE: PTX) price target of $14.00.

Analyst, Elliot Wilbur, said, "PTX reported 1Q12 results within our estimate range and in-line with prior guidance but below Street consensus. Despite weak cough and cold season and increasingly disappointing Natroba sales, 1Q12 revenues increased 43% y/y due to higher sales of Cedax and generic products. Near-term focus now shifts to expansion into gastroenterology with 2H12 launch of Omeclamox (treatment of h. pylori) and deployment of cash arsenal in search of new acquisition targets to layer into existing growth verticals of pediatrics, GI and generics."

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 $7.51 yesterday.

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