Market Overview

Pernix Therapeutics Soars 75% Following Report of 5.8% Stake by Point 72

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Shares of Pernix Therapeutics Holdings Inc (NASDAQ: PTX), a nano-cap specialty pharmaceutical company that focuses on products that addresses unmet medical needs, soared higher by more than 75 percent early Monday morning.

Investors and traders were reacting to Point72 Asset Management's disclosure on Friday that it has acquired a 5.8 percent stake in the company.

Point72 Asset Management is a notable asset manager founded by billionaire investor Steven Cohen.

Shares traded recently at $1.29, up 72 percent in the pre-market session.

Posted-In: Pernix Therapeutics Point72 Asset Management Steven Cohen Therapeutics StocksNews Hedge Funds Movers General

 

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