Company Shares of Pernix Therapeutics Holdings Drops by -14.81%

Pernix Therapeutics Holdings (NASDAQ:PTX) has tumbled 14.81% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 19.67% in the last four weeks. The stocks have underperformed the S&P 500 by 13.79% during the past week but Pernix Therapeutics Holdings (NASDAQ:PTX) it has outperformed the index in 4 weeks by 18.57%.

Pernix Therapeutics Holdings (NASDAQ:PTX): The stock opened at $0.52 on Friday but the bulls could not build on the opening and the stock topped out at $0.53 for the day. The stock traded down to $0.49 during the day, due to lack of any buying support eventually closed down at $0.49 with a loss of -2.20% for the day. The stock had closed at $0.51 on the previous day. The total traded volume was 5,312,703 shares.

The company shares have dropped -92.01% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $6.44 and the one year low was seen on May 24, 2016. The 50-Day Moving Average price is $0.55 and the 200 Day Moving Average price is recorded at $1.60.

On the companys insider trading activities, Siegel Barry J, officer (Senior VP and General Counsel) of Pernix Therapeutics Holdings, Inc. had purchased 5,000 shares on August 19, 2015 in a transaction. The price per share was $4.49 and the total amount of the disclosed transaction was $22,450.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Many analysts have stated their opinion on the company shares. Brokerage firm Oppenheimer downgrades its rating on Pernix Therapeutics Holdings (NASDAQ:PTX). The shares have been rated Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on March 17, 2016. Currently the company Insiders own 5.62% of Pernix Therapeutics Holdings shares according to the proxy statements. Institutional Investors own 65.18% of Pernix Therapeutics Holdings shares.

Pernix Therapeutics Holdings, Inc. (Pernix) is a pharmaceutical company. The Company is engaged in the acquisition, development and commercialization of prescription drugs, primarily for the United States market. The Company focuses on underserved therapeutic areas, such as central nervous system (CNS), including neurology and psychiatry, as well as other specialty therapeutic areas. The Companys products include Treximet, an analgesic indicated for acute migraine; Silenor (doxepin), a prescription sleep aid for the treatment of insomnia characterized by difficulty with sleep maintenance, and Khedezla (desvenlafaxine extended-release tablets), for major depressive disorder. The Company distributes its generic products through wholly owned subsidiaries, Macoven Pharmaceuticals, LLC (Macoven) and Cypress Pharmaceuticals, Inc. (Cypress).

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