H.C. Wainwright analyst Oren Livnat maintained a Buy rating on Antares Pharma (NASDAQ: ATRS) today and set a price target of $4.50. The company’s shares closed yesterday at $3.30.
Livnat wrote:
“We look forward to getting more potential color from Teva on launch timing and expectations, but our estimates include nearly $40M peak EpiPen revenue to Antares (device sales plus royalties; more below) which alone represent an incremental 67% beyond Antares’ current approximate $60M revenue base (above current company gross margins). We a view the product as a sustainable contributor as we aren’t aware of any other substitutable EpiPen generics on the way. This is both a boost to Antares’ fundamentals, and a key credibility signal for potential development partners going forward, in our view. Note that Pfizer (PFE; not rated), the actual manufacturer of brand EpiPen, just inked a deal with Antares for an undisclosed drug-device pen, which we’d viewed as a telling tip-of-the-cap, and hopefully a sign of more come.”
According to TipRanks.com, Livnat is a 1-star analyst with an average return of -3.7% and a 45.2% 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 $4.18 average price target.
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The company has a one-year high of $4.09 and a one-year low of $1.58. Currently, Antares Pharma has an average volume of 949.8K.
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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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