This morning I'm adding a highly speculative stock - Pernix Therapeutics Holdings (NASDAQ:PTX) - to the Barchart Van Meerten Speculative portfolio based mainly on price momentum.
Pernix Therapeutics Holdings Inc. is a specialty pharmaceutical company focused on developing and commercializing pharmaceutical products to meet medical needs primarily in pediatrics. The company's product families include Aldex, Pediatex, Z-COF, Brovex, ReZyst and QuinZyme. Its Aldex products are indicated for the treatment of allergies and symptoms of the common cold. Pediatex TD is for the treatment of respiratory allergies. Z-COF 8DM is for the treatment of allergies and symptoms of the common cold. The Brovex products are indicated for the treatment of allergies and symptoms of the common cold. ReZyst IM is a chewable tablet probiotic indicated to replace active cultures that are destroyed by diet and antibiotics and to reduce symptoms associated with irritable bowel syndrome and various gastrointestinal issues. QuinZyme is a dissolve tablet for patients with depleted ubiquinone levels and for patients on statin therapy. Pernix is based in Magnolia, Texas.
The stock has shown recent positive price momentum and came up on my Barchart screens of stocks hitting the most frequent new highs and having high technical buy signals. The company has a 100% Barchart technical buy signal after hitting 16 new highs in the last month and price appreciation of 19.47%. The Relative Strength Index is a solid 68.32% and rising.
The stock is not covered by many Wall Street analysts and those that do follow predict a 86.00% increase in sales and a 68.10% increase in earnings per share for the next year. They also stick their neck out with a 5 year annual EPS growth rate of 43.00%,
If you are looking at an undiscovered company with current price momentum and high double digit growth prospects you might want to put Perrix Therapeutics on your watch list.
Disclosure: I am long PTX.