Pernix Therapeutics Holdings, Inc. Shares Take A Dive On Poor Earnings Results

Pernix Therapeutics Holdings, Inc. (PTX), a specialty pharmaceutical company yesterday reported their fourth quarter and full year 2016 financial results. Pernix reported fourth quarter revenues of $30.1 million which was down 27% compared to fourth quarter of the previous year which was $41.5 million.

Pernix Therapeutics Holdings, Inc. CEO’s Comments

“Since July 2016, when we restructured our sales force, we have achieved significant progress in improving the performance of our business,” said John Sedor, Chairman and Chief Executive Officer of Pernix Therapeutics.  “Moreover, our prescription fulfillment program, Pernix Prescriptions Direct, continues to drive uptake of Treximet and Silenor.  We remain focused on improving our commercial execution and driving further growth of our core brands.  In addition, our business returned to positive adjusted EBITDA during the second half of 2016.”

“We were pleased to reach a resolution with GSK,” said Graham Miao, President and Chief Financial Officer.  “We continue to assess various alternatives in order to proactively address our liquidity and capital structure in a constructive manner, including strategic and refinancing alternatives, asset sales, and mergers and acquisitions.”  Globe Newswire

PTX Technical Analysis

(Click on image to enlarge)

Pernix Therapeutics

PTX opened trading yesterday at $4.22 which was up from the previous day’s trading close of $4.17. Shares closed trading yesterday at $4.06 and spiked down aftermarket to $3.50, equivalent to a 14% decrease from the closing price. Taking a look at the daily chart we can see that the last time PTX traded below these levels we have to go back to March 7th when it traded at $3.46.

Taking a closer look at the daily chart we can see that before the spike down PTX had been in an overall upward trend dating back to December 30th, 2016 when it traded at $1.94. PTX has a float of 8.07 million shares and traded below the normal daily trading volume on Tuesday.

1 2
View single page >> |

Disclaimer: This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.