Can These Stocks Reverse And Move Higher? Pernix Therapeutics Holdings Inc (PTX), Matador Resources Co (MTDR) and CollabRx Inc (CLRX)
New York, NY – GDP INSIDER – 04/17/2014.
This article discusses three companies: Pernix Therapeutics Holdings Inc (NASDAQ:PTX), Matador Resources Co (NYSE:MTDR) and CollabRx Inc (NASDAQ:CLRX)
Pernix Therapeutics Holdings Inc (NASDAQ:PTX) had a rough day in trading yesterday. It declined by 16% per share on very heavy volume. Volume for the day was 7.7 million shares compared to an average of 0.75 million. The shares fell after the company updated its 2015 sales guidance, and the Street reacted negatively. Technical may act as resistance for further declines in the shares. It broke through the bottom Bollinger Band and both the RSI and MFI are approaching 30. The stock could bounce in the near-term, and the company can benefit for its recent acquisition.
Matador Resources Co (NYSE:MTDR) shares fell yesterday by 7% to $27.24. The stock remains at the top end of its 52-week range of $14.08 – $29.94. This could be a temporary pull back in a longer upward move. There were signs headed into the day that the stock had crossed technical thresholds. The RSI was over 70 and the MFI was close to 90. It looked primed for pullback on any negative news or sentiment shift. The company announced it would have a public offering of 7 million additional shares which led to the selloff. This looks temporary and the stock could move higher.
CollabRx Inc (NASDAQ:CLRX) increased over 9% in Thursday’s trading session to $1.14. It traded higher on heavy volume based on the announcement that it would merge with Medytox Solutions. Current holders of CollabRx will receive a 10% interest in the combined company with Medytox shareholders receiving the other 90%. The Boards of both companies have already approved the deal. The new company could have stronger growth prospect and prove positive for shareholders of both companies. Understanding the right valuation for the new firm creates an opportunity for investors, hold.
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