UPDATE: Aegis Capital Initiates Pernix Therapeutics Holdings at Buy on Strong Fundamentals, Outlook

Aegis Capital initiated coverage on Pernix Therapeutics Holdings, Inc.

with a Buy rating and a $12.00 price target. Aegis Capital commented, "The firm has exposure to both the prescription as well as the overthe-counter (OTC) product markets. Its core target indications include allergy, cough and cold; infectious diseases; gastrointestinal disorders; women's health and pediatrics; and neurology (specifically, pain management and insomnia). We believe that the firm represents an undervalued investment opportunity in the specialty pharmaceuticals sector, with a risk-mitigated business model and a track record of substantial revenue and earnings growth (42% CAGR over the past four years in sales and >55% CAGR on the EBITDA line)." Pernix Therapeutics Holdings closed at $8.06 on Friday.