Piper Jaffray Cuts Price Target on Antares Pharma (ATRS) Following 2Q
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray maintained an Overweight rating on Antares Pharma (NASDAQ: ATRS), and cut the price target to $2.00 (from $3.00), following the company's 2Q earnings report. ATRS reported EPS of ($0.04), in-line with the Street's estimate. Revenues of $12.2M came in ahead of the Street estimates of $10.8M.
Analyst David Amsellem commented, "Antares reported 2Q16 EPS of ($0.04) on revenue of $12.2M, compared to Street estimates of ($0.04) and $10.8M, respectively. Sales of Otrexup, the company's subcutaneous (SC) self-injectable form of methotrexate (MTX) for rheumatoid arthritis (RA), were up 14% vs. 2Q15 and up 15% sequentially vs. 1Q16. ATRS also announced the completion of patient enrollment for its Quickshot Testosterone (QS-T) safety study and is expecting to submit its NDA in 4Q16. We continue to believe there is room for value creation given that ATRS has two later-stage pipeline shots-on-goal (QS-T and a generic form of Mylan's EpiPen) that could bear fruit over the long-term. We reiterate our Overweight rating and are lowering our PT to $2 from $3, owing to estimate revisions."
Shares of Antares Pharma closed at $1.14 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- UBS Cuts Price Target on Qualcomm (QCOM) Following FTC Complaint
- Neurocrine Bio. (NBIX) PT Lowered to $56 at Jefferies Amid Adult Tourette's Data
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!