Jefferies Reiterates Buy on Aratana Therapeutics (PETX) Following US Galliprant Approval

Jefferies reiterated a Buy rating and $12.00 price target on Aratana Therapeutics (NASDAQ: PETX) following the company's US approval of Galliprant (AT-001). Galliprant is expected to be available to US veterinarians in Q3'16. Jefferies sees this as a lucrative opportunity, given 9.7m dogs are treated for osteoarthritis in the US each year and estimate US peak annual sales of $76m in dogs.

Analyst Jeffrey Holford commented, "We see significant upside in Aratana shares driven by a rich set of catalysts in 2016. These include three further potential drug approvals on top of the recent US approval of Galliprant and an OUS partnership agreement. We reiterate our Buy rating and $12 Price Target on Aratana after updating our model for recent events and business trends."

For an analyst ratings summary and ratings history on Aratana Therapeutics click here. For more ratings news on Aratana Therapeutics click here.

Shares of Aratana Therapeutics closed at $5.52 yesterday.

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