UPDATE: Stifel Nicolaus Initiates Pernix Therapeutics at Buy
Stifel Nicolaus is out with its report today on Permix Therapeutics (NYSE: PTX), initiating PTX at Buy.
In its report, Stifel Nicolaus writes, "In our view, Pernix is a classic growth story. It has tangible growth, a nimble sales force, meaningful operating leverage, and a proven acquisition strategy to fuel continued expansion. As the company executes on these opportunities, we believe PTX shares will have considerable potential for upside. We rate PTX shares Buy with a 12-month target price of $15, based on a DCF analysis (WACC 10%; terminal growth 2%)."
Shares of PTX closed Thursday at $6.38, up 4.47% from Wednesday's close.
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