Summer Infant Skyrockets On Results, Pernix Therapeutics Soars On Migraine Treatment Acquisition
Shares of Summer Infant, Inc. (NASDAQ: SUMR) are trading in different levels on Wednesday's market activity, after the company reported a solid performance on its financial results.
For the first quarter ended March 31, 2014, SUMR posted net revenues of $50.8 million, a 14% increase sequentially, and net income of $0.2 million, or $0.01 per diluted share, compared with a net loss of $1.7 million, or $0.09 per share, in the fourth quarter of 2013.
SUMR expects its bottom-line to improve on a sequential and year-over-year basis throughout the remainder of 2014 and the company anticipates its top-line will begin to show year-over-year growth in the second half of 2014.
SUMR was upgraded from Neutral to Buy by brokerage firm Roth Capital
Summer Infant, Inc. (NASDAQ: SUMR) is a global designer, marketer, and distributor of branded juvenile health, safety and wellness products (for ages 0-3) which are sold principally to large North American and European retailers.
The price of Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX) stock soared to a new 52 week high on Wednesday's trading session, following the announcement that the company has signed an agreement with GlaxoSmithKline to acquire the U.S rights to Treximet(R) (sumatriptan / naproxen sodium) for the acute treatment of migraine attacks with or without aura in adults.
PTX’s expects to begin sales of Treximet(R) immediately following the closing of the transaction with its approximately 90 sales professionals to specific targets in the Neurology, Psychiatry and the Primary Care audiences.
According to the company, the acquisition of Treximet(R) further accelerates the transformation of PTX into a specialty pharmaceutical company, expands its portfolio of CNS brands, Silenor(R) and Khedezla(TM), and with the strong presence PTX is establishing in the adjacent psychiatric market, this acquisition provides the company an opportunity to expand its reach and penetration into the very important neurology space.
Treximet(R) is currently the lowest priced branded migraine treatment available, yet provides superior pain relief compared to placebo and to both of the single mechanism of action components.
Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX) is a specialty pharmaceutical company primarily focused on the sales, marketing, and development of branded pharmaceutical products.
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