NEW YORK (TheStreet) -- Shares of Pernix TherapeuticsHoldings (PTX) - Get Report were falling 12.41% to $4.80 on heavy trading volume after the pharmaceutical company missed analysts' estimates for earnings in the second quarter.
Pernix Therapeutics reported a loss of 10 cents a share for the second quarter, below analysts' estimates of a profit of 3 cents a share for the quarter. Revenue grew 170.2% year over year to $46.98 million, compared to analysts' estimates of $46.06 million.
The company said it now expects to report revenue of $170 million to $180 million for full year 2015. Analysts expect the company to report revenue of $206.78 million for the year.
About 5.8 million shares of Pernix Therapeutics were traded by 2:26 p.m. Friday, above the company's average trading volume of about 1.2 million shares a day.
TheStreet Ratings team rates PERNIX THERAPEUTICS HOLDINGS as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PERNIX THERAPEUTICS HOLDINGS (PTX) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: PTX Ratings Report
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