Pernix Therapeutics Holdings, Inc. ( PTX ) saw a big move last session, as the company's shares fell nearly 15% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for PTX as the stock is now up nearly 15% in the past one-month time frame.
On Mar 10, Pernix Therapeutics agreed to acquire Zohydro ER pain-killer business for a total consideration of $383.5 million.
Although this slump was obviously disappointing, the pharmaceutical company has seen 1 positive revision and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for PTX. So make sure to keep an eye on this stock going forward to see if yesterday's price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
PTX currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the same sector is Akorn, Inc. ( AKRX ), holding a Zacks Rank #1 (Strong Buy).
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