.png "Aratana (NASDAQ: PETX)")
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Aratana (PETX) today and set a price target of $10. The company’s shares closed on Friday at $6.37.
Ramakanth commented:
“We maintain our Buy rating of PETX and our 12-month price target of $10.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 1.5% and a 36.3% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Tyme Technologies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aratana with a $10 average price target.
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Based on Aratana’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $8.83 million. In comparison, last year the company had a GAAP net loss of $8.92 million.
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Aratana Therapeutics, Inc. operates as a development stage biopharmaceutical company, which focuses on the licensing, development and commercialization of innovative prescription medications for pets or pet therapeutics. It delivers prescription medicines that address significant medical needs for cats and dogs.
