Antares Pharma Inc (ATRS): Over 50% Upside Left, Says H.C. Wainwright

Antares Pharma Inc (NASDAQ:ATRS) is a mover and shaker out on the Street today, with investors sparking the stock on an almost 17% upturn. The reason? Antares’ partner AMAG announced FDA approval of subcutaneous auto-injector version of Makena, hydroxyprogesterone caproate (HPC) for reduction of preterm birth risk. This is the first approval of a product using the Quickshot injector device, which is the device Antares is using for its lead proprietary pipeline candidate, Xyosted.

In reaction, H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on shares of Antares, with a price target of $3.50, which implies an upside of 54% from current levels. (To watch Livnat’s track record, click here)

Livnat commented, “This should bring a near-term revenue and cash-flow boost to Antares as the company continues to seek clarity and a pathway forward for Xyosted. Antares has a post-CRL Type A meeting scheduled with the FDA for February 21, so we expect to get a Xyosted update by late-March. We continue to believe it should be approvable and that the safety questions raised by the FDA—hypertension and depression and suicidality—are known testosterone class affects already in the labels of approved products, which do 7M Rx/year. Until updated, we’ve pushed the theoretical launch out to 4Q18 and maintain only a 30% probability of success in our target. We hope Antares can keep the momentum going with an approval for partner Teva’s generic EpiPen at any time.”

As of this writing, all the 4 analysts polled in the past 12 months rate Antares stock a Buy. With a return potential of 64%, the stock’s consensus target price stands at $3.73.

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