H.C. Wainwright Reiterates Their Buy Rating on Antares Pharma (ATRS)

In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Antares Pharma (ATRS), with a price target of $4.50. The company’s shares closed on Friday at $3.04.

Livnat said:

“We’re encouraged to see Teva Rx share jump to 9.7% in the latest data (week ending 4/26; Figure 1), and we model 25% in 3Q19. Thus, we expect strong continuing device orders and growing Antares royalty revenue in 2H19. Makena orders from partner AMAG (AMAG; not rated) were also up QoQ and should be a steady contributor. As we published in March, we do not expect Makena to be pulled from the market following the failed post-approval PROLONG study. Last, but certainly not least important, Xyosted Rx are off to a solid start. Sales in the quarter were de minimis (likely under $1M), but Rx volume was up 66% sequentially in March and the latest data showed new highs, and at our estimated steady-state $340/Rx, sales are running at $11-12M now (Figure 2).”

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 11.5% and a 53.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.

Currently, the analyst consensus on Antares Pharma is a Strong Buy with an average price target of $9.73.

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Based on Antares Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $5.54 million. In comparison, last year the company had a GAAP net loss of $6.19 million.

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Antares Pharma, Inc. engages in the development and commercialization of self-administered parenteral pharmaceutical products and technologies. Its proprietary products include XYOSTED (testosterone enanthate) injection, OTREXUP (methotrexate) injection for subcutaneous use, and Sumatriptan Injection.