H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Antares Pharma (NASDAQ: ATRS) today and set a price target of $4.50. The company’s shares opened today at $3.61.
Livnat observed:
“We expect Antares to execute its existing contingent sales force offers, ramp up commercial infrastructure with 50-60 reps in 4Q and make Xyosted available before year- end. We model Xyosted revenue starting in 2019 ($24M in FY19; 20% of ATRS total revenue), climbing to peak sales approaching $150M. The testosterone replacement therapy (TRT) space remains quite large (approx. 7.5M Rx/year) with generic long-acting injectables now representing 70% of total volume (5.3M Rx/year) growing at an underappreciated strong 12% YoY (Figure 1).”
According to TipRanks.com, Livnat is a 3-star analyst with an average return of 2.5% and a 52.0% 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 $4.25 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 $5.45 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.
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