Aratana Therapeutics (PETX): Cutting PT - Jefferies
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Jefferies analyst, David Gu, reiterated his Buy rating on shares of Aratana Therapeutics (NASDAQ: PETX) but cut his price target to $11 noting that Entyce and Nocita remain on track and are the key drivers of valuation.
AT-018 development in recurrent atopic dermatitis was discontinued, and he sees modest impact on the shares as due to the asymmetrical upside for this underthe-radar asset. That said, he cut the price target to $11 from $13 to reflect development updates.
Shares of Aratana Therapeutics closed at $7.94 yesterday.
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