Jefferies Thinks Antares Pharma’s Stock is Going to Recover

By George MacDonald

According to The Fly, jefferies analyst Anthony Petrone reiterated a Buy rating on Antares Pharma (NASDAQ: ATRS) today and set a price target of $3. The company’s shares opened today at $0.92, close to its 52-week low of $0.67.

Petrone observed, “ATRS put up $1mn top-line beat predominantly on $6mn in pre-launch EpiPen device sales to Teva. Pre-launch EpiPen shipments will be completed next Q but will be offset by initial development units for gForteo and Makena along with the launch of generic Sumatriptan later this year.”

According to TipRanks.com, Petrone is ranked #509 out of 3828 analysts.

Antares Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $3

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Based on Antares Pharma`s latest earnings report from December 31, the company posted quarterly revenue of $11.8M and quarterly net profit of -$6.63M. In comparison, last year the company earned revenue of $8.35M and had a net profit of -$6.79M.

Like Jefferies` latest rating, based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATRS in relation to earlier this year. Most recently, in March 2016, Peter J. Graham, a the SVP General Counsel, Secretary of ATRS bought 20,000 shares for a total of $15,400.

Antares Pharma, Inc. is a specialty pharmaceutical company. It focuses on developing and commercializing self-administered parenteral therapeutic products. It has one operating segment, drug delivery, which includes the development of injection devices and injection based pharmaceutical products as well as transdermal gel products. The company was founded in 1979 and is headquartered in Ewing, NJ.