HC Wainwright restated their buy rating on shares of Antares Pharma (NASDAQ:ATRS) in a research note released on Monday morning, AnalystRatings.com reports. The firm currently has a $4.50 price target on the specialty pharmaceutical company’s stock.
“We’re encouraged to see Teva Rx share jump to 9.7% in the latest data (week ending 4/26; Figure 1), and we model 25% in 3Q19. Thus, we expect strong continuing device orders and growing Antares royalty revenue in 2H19. Makena orders from partner AMAG (AMAG; not rated) were also up QoQ and should be a steady contributor. As we published in March, we do not expect Makena to be pulled from the market following the failed post-approval PROLONG study. Last, but certainly not least important, Xyosted Rx are off to a solid start. Sales in the quarter were de minimis (likely under $1M), but Rx volume was up 66% sequentially in March and the latest data showed new highs, and at our estimated steady-state $340/Rx, sales are running at $11-12M now (Figure 2).”,” HC Wainwright’s analyst wrote.
A number of other analysts also recently weighed in on the company. Raymond James increased their price objective on Antares Pharma from $5.25 to $5.65 and gave the company a strong-buy rating in a report on Monday, March 4th. BidaskClub upgraded Antares Pharma from a hold rating to a buy rating in a report on Wednesday, March 6th. TheStreet upgraded Antares Pharma from a d rating to a c rating in a report on Friday, March 1st. Finally, Cowen began coverage on Antares Pharma in a report on Monday, February 25th. They issued an outperform rating and a $1.99 price objective for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Antares Pharma has a consensus rating of Buy and a consensus price target of $4.83.
Shares of NASDAQ:ATRS opened at $2.96 on Monday. The firm has a market cap of $482.17 million, a PE ratio of -74.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.62 and a quick ratio of 2.20. Antares Pharma has a 52-week low of $2.35 and a 52-week high of $3.96.
Antares Pharma (NASDAQ:ATRS) last announced its quarterly earnings results on Thursday, May 2nd. The specialty pharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $23.29 million during the quarter, compared to the consensus estimate of $17.46 million. Antares Pharma had a negative net margin of 7.91% and a negative return on equity of 19.98%. On average, sell-side analysts anticipate that Antares Pharma will post -0.06 EPS for the current year.
In related news, Director Thomas J. Garrity sold 30,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $2.67, for a total value of $80,100.00. Following the completion of the sale, the director now directly owns 190,213 shares in the company, valued at $507,868.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jacques Gonella sold 200,000 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $3.65, for a total value of $730,000.00. Following the completion of the sale, the director now owns 9,385,848 shares of the company’s stock, valued at $34,258,345.20. The disclosure for this sale can be found here. Insiders sold 322,078 shares of company stock valued at $1,086,334 over the last 90 days. 12.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of ATRS. Alpine Woods Capital Investors LLC acquired a new stake in Antares Pharma during the 1st quarter worth about $30,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Antares Pharma during the 4th quarter worth about $31,000. Foundations Investment Advisors LLC acquired a new stake in Antares Pharma during the 4th quarter worth about $42,000. Virtu Financial LLC acquired a new stake in Antares Pharma during the 4th quarter worth about $45,000. Finally, Enterprise Bank & Trust Co acquired a new stake in Antares Pharma during the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 40.73% of the company’s stock.
About Antares Pharma
Antares Pharma, Inc focuses on developing and commercializing self-administered parenteral pharmaceutical products and technologies worldwide. The company's injection products include OTREXUP that comprises of pre-filled methotrexate syringe and VIBEX self-injection system to enable rheumatoid arthritis (RA) and psoriasis patients to self-inject methotrexate at home; XYOSTED for the treatment of testosterone deficiency in adult males; Sumatriptan Injection USP for the acute treatment of migraine and cluster headache in adults.
Recommended Story: Hedge Funds – Risk or Reward?