Insider Selling: Pernix Therapeutics Holdings major shareholder Sells 310,200 Shares of Stock (PTX)

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Pernix Therapeutics Holdings (NYSE:PTX) major shareholder James Edward Jr. Smith sold 310,200 shares of Pernix Therapeutics Holdings stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.12, for a total transaction of $1,898,424.00. Following the sale, the insider now directly owns 3,693,104 shares of the company’s stock, valued at approximately $22,601,796. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Pernix Therapeutics Holdings (NYSE:PTX) traded down 1.56% on Friday, hitting $6.33. The stock had a trading volume of 2,390,884 shares. Pernix Therapeutics Holdings has a 52-week low of $1.68 and a 52-week high of $6.66. The stock has a 50-day moving average of $4.91 and a 200-day moving average of $3.38. The company’s market cap is $236.5 million.

Pernix Therapeutics Holdings (NYSE:PTX) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.21. The company had revenue of $19.10 million for the quarter, compared to the consensus estimate of $23.65 million. On average, analysts predict that Pernix Therapeutics Holdings will post $0.07 earnings per share for the current fiscal year.

A number of research firms have recently commented on PTX. Analysts at Needham & Company LLC upgraded shares of Pernix Therapeutics Holdings from a “buy” rating to a “strong-buy” rating in a research note on Thursday. They now have a $10.00 price target on the stock, up previously from $6.30. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the company’s stock. Pernix Therapeutics Holdings currently has an average rating of “Hold” and an average target price of $4.25.

Pernix Therapeutics Holdings, Inc (NYSE:PTX) is a specialty pharmaceutical company focused on the sales, marketing and development of branded and generic pharmaceutical products for pediatric and adult indications in a range of therapeutic areas.

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