Brean Capital Maintains Buy on Pernix Therapeutics Holdings Inc in Light of Encouraging Signs on Treximet and Silenor
In a research report released today, Brean Capital analyst Difei Yang maintained a Buy rating on shares of Pernix Therapeutics Holdings Inc (NASDAQ:PTX) with a $14 price target, as Treximet and Silenor showed encouraging trends in patient demand during the month of August. Treximet showed a double-digit month-over-month sequential growth rate in demand based on data collected by Symphony Health Solution, while Silenor seems also to be responding to promotion which continued its gradual upward trend.
Yang noted, “The uptick in Treximet was particularly pronounced. Management shared their thoughts on the recent upward trend of Treximet and said that they are cautiously optimistic. Thus, we will leave our current product revenue forecasts unchanged. Our investment thesis remains intact, i.e., Pernix is an undervalued company with a roll-up strategy through M&A. We do believe the company will gain operating leverage based on its current product portfolio.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Difei Yang has a total average return of 10.0% and a 40.9% success rate. Yang has a -11.0% average return when recommending PTX, and is ranked #535 out of 3748 analysts.
Out of the 5 analysts polled by TipRanks, 4 rate Pernix Therapeutics stock a Buy, while 1 rates the stock a Hold. With a return potential of 169%, the stock’s consensus target price stands at $12.50.