In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Antares Pharma (NASDAQ: ATRS), with a price target of $4. The company’s shares closed yesterday at $2.89.
Livnat noted:
“We look forward to revenue and GM% growth next quarter, driven by increase royalty revenue from partner AMAG’s (AMAG; not rated) strong Makena life-cycle switch to Antares’ SubQ auto-injector (more below). Crucially, we look forward to two potentially game-changing catalysts in 2H19: (1) Xyosted (self-sold testosterone auto-injector) approval on the September 29 PDUFA date; and (2) partner Teva’s (TEVA; not rated) AB-rated generic EpiPen approval. We model total Antares revenue nearly doubling in 2019 to $118M and these two new products combined account for over 80% of that growth. Xyosted is the biggest driver of our valuation at over 40% of our $4/share sum-of-parts with our peak U.S. sales projection of $150M.”
According to TipRanks.com, Livnat is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.6% and a 44.1% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Antares Pharma with a $3.93 average price target.
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Based on Antares Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.52 million. In comparison, last year the company had a GAAP net loss of $2.84 million.
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Antares Pharma, Inc. is a pharmaceutical company. The company focuses on the development and commercialization of self-administered parenteral pharmaceutical products and technologies. Its activities include the development of injection devices and injection based pharmaceutical products as well as transdermal gel products.
