Piper Jaffray Cuts Price Target on Antares Pharma (ATRS) Following 2Q

August 11, 2016 8:08 AM EDT
Get Alerts ATRS Hot Sheet
Price: $2.14 -0.47%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
Trade ATRS Now!
Join SI Premium – FREE

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."

For an analyst ratings summary and ratings history on Antares Pharma click here. For more ratings news on Antares Pharma click here.

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

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Piper Jaffray, Earnings

Add Your Comment