Pernix Therapeutics Holdings Inc (NASDAQ: PTX) is having an incredibly strong day in the market today, and for good reason. The company announced that it would be releasing its earnings results relatively soon, leading to excitement among investors and pushing the stock upward. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:48), PTX is trading at $6.64 per share after a gain of $0.27 per share (4.30%) thus far today.
PTX To Report Earnings On Monday
As mentioned above, Pernix Therapeutics is having an overwhelmingly strong day in the market today after announcing intentions to report its first quarter earnings soon. The company said that after the close of business on Monday, May 15, 2017, it will be releasing its earnings report. A conference call has also been scheduled to discuss earnings results. The call will be held on May 15th at 4:30 PM ET. To call in, dial 888-504-7953 in the US and 719-457-2643 internationally. The conference ID is 4336660. You can also join the webcast by clicking here.
Why Investors Are So Excited
Earnings reports come along all the time. So, why are investors so excited about the PTX report? Well, the answer is simple. It all lies in the genius that we know as the company’s CEO, John Sedor. When Sedor took the company over, it wasn’t in the best of shape. However, he has made several moves to lead to growth, and this earnings report is one that will likely show just that.
Another factor of note here is that on May 1st, PTX informed investors and consumers that it has run into a manufacturing issue with regard to Zohydro ER 20mg pills. As a result, the medication will be on back order until at least the first quarter of 2018. While this could be bad news in some circumstances, for Pernix Therapeutics, this could be a sign of very good news.
First and foremost, this won’t likely affect sales, as Zohydro ER comes in various mg doses, and 20 mg is the only affected dose. Therefore, if a doctor sees a need for 20mg of Zohydro ER, he could prescribe two 10mg pills, equaling the same dose. However, many investors and experts have taken this a step further. In fact, many believe that one of the big reasons for the back log on Zohydro ER 20mg is because this is the most prescribed dose, and the demand for the medication is higher than expected. So, many investors find themselves waiting on the edge of their seats, hoping for a smash hit quarter as a result of strong Zohydro ER sales.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PTX. In particular, we’re interested in the company’s Q1 results, as we expect the quarter to be overwhelmingly positive. We’ll continue to follow the story closely and bring the news to you as it breaks!
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