On the upside, Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX) will test short term resistance at around $0.91. On a downside, the share price is likely to find some support, which begins at $0.2. The failure to get near-term support could push it to $0. Its 50 day simple moving average (SMA 50) price is $0.72 and its 200-day simple moving average (SMA 200) price is $1.81. The company’s stock currently has a total float of 14.28M shares. Its weekly volatility is hovering around 51.8% and felt 21.05% volatility in price over a month.
PTX stock has been range bound between the range of $0.4251 and $0.4251 during the whole day. The stock finished Thursday at $0.44. The -23.48% downtrend forced its market value to reach at $6.97M. The price went up as high as $0.4251 before retreating. Trading activity significantly improved as the volume at ready counter increased to 11,243,926 shares versus 734,990 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 182,608 shares. The stock is now 10% above against its bear-market low of $0.4 on December 04, 2018. It has retreated -650% since it’s 52-week high of $3.3 reached in March. Now the market price is down -82.04% on the year and down -81.67% YTD.
Separately, it has been reported that multiple insider activity took place at Pernix Therapeutics Holdings, Inc. (PTX). CFO Patel Sanjay S acquired 500 shares for $700 in transaction occurred on 2015/08/19. After making this transaction, the CFO owns a direct stake of 23,000 shares, worth $308, as per the last closing price. On 2015/08/19 Siegel Barry J, Senior VP and General Counsel at PTX, purchased 500 shares at an average price of $44.9 per share. The new stake is valued at $220.
CEO, Drysdale Douglas had invested in 850 shares for $9,516 through a trade on 2015/08/18. Following this activity, the insider holds 39,865 shares worth $4,187 as of recent close.
It had seen a negative analyst call from Brean Capital, which downgraded the stock from Buy to Hold on August 12. Analysts at Needham, shed their positive views on March 11 by lowering it fromBuy to Hold. Brokerage firm Needham, looks cautious as they stick to prior recommendation of Strong Buy, in a call on March 08. However, they did change the target price from $10 to $8.
Compared to others, Pernix Therapeutics Holdings, Inc. is in a different league with regards to profitability, having net margins of -59.7%. To put some perspective around this, the industry’s average net margin is 5.44%. PTX’s ROE is 39.3%, which is also considerably better than the industry’s ROE of 15.85%. It’s also very liquid in the near term, with a current ratio of 1.1. The stock has a debt/capital of 0.
Shares of Pernix Therapeutics Holdings, Inc. (PTX) have dropped -29.3% since the company’s Jun-16 earnings report. Over the past 3 fiscal quarters, Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX) has topped consensus earnings estimates in 0 quarters (0%), missed earnings in 3 quarters (25%), whereas at 0 occasion EPS met analyst expectations. Revenue for the recent quarter stood at $36.75 million, down -22% on last year and below the $40.33 million predicted by analysts.