Antares Pharma, Inc. (NASDAQ:ATRS) announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01, Bloomberg Earnings reports. The firm had revenue of $13.42 million during the quarter, compared to analysts’ expectations of $12.99 million. Antares Pharma had a negative return on equity of 41.37% and a negative net margin of 34.27%.
Shares of Antares Pharma (NASDAQ:ATRS) remained flat at $3.06 during midday trading on Friday. 1,122,198 shares of the company’s stock were exchanged. Antares Pharma has a 52-week low of $1.10 and a 52-week high of $3.37. The firm’s 50 day moving average price is $3.12 and its 200-day moving average price is $2.80. The stock’s market cap is $478.61 million.
In other news, insider Fred M. Powell purchased 130,000 shares of the stock in a transaction dated Friday, June 9th. The stock was acquired at an average cost of $2.79 per share, for a total transaction of $362,700.00. Following the completion of the transaction, the insider now directly owns 331,434 shares in the company, valued at approximately $924,700.86. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 11.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Antares Pharma by 2,682.1% in the second quarter. State Street Corp now owns 2,027,650 shares of the specialty pharmaceutical company’s stock valued at $6,530,000 after buying an additional 1,954,769 shares in the last quarter. Northern Trust Corp raised its position in Antares Pharma by 478.1% in the second quarter. Northern Trust Corp now owns 1,654,266 shares of the specialty pharmaceutical company’s stock valued at $5,327,000 after buying an additional 1,368,131 shares in the last quarter. Rubric Capital Management LP raised its position in Antares Pharma by 103.7% in the first quarter. Rubric Capital Management LP now owns 2,371,970 shares of the specialty pharmaceutical company’s stock valued at $6,736,000 after buying an additional 1,207,622 shares in the last quarter. Morgan Stanley raised its position in Antares Pharma by 153.3% in the first quarter. Morgan Stanley now owns 996,113 shares of the specialty pharmaceutical company’s stock valued at $2,829,000 after buying an additional 602,834 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Antares Pharma by 10.1% in the second quarter. Vanguard Group Inc. now owns 6,186,232 shares of the specialty pharmaceutical company’s stock valued at $19,920,000 after buying an additional 567,144 shares in the last quarter. Institutional investors and hedge funds own 32.92% of the company’s stock.
A number of brokerages have recently commented on ATRS. Vetr cut Antares Pharma from a “buy” rating to a “hold” rating and set a $3.42 target price for the company. in a report on Wednesday, July 12th. Piper Jaffray Companies set a $4.00 price objective on Antares Pharma and gave the company a “buy” rating in a report on Wednesday, July 26th. HC Wainwright set a $5.00 price objective on Antares Pharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Chardan Capital started coverage on Antares Pharma in a report on Friday, June 23rd. They set a “buy” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.34.
About Antares Pharma
Antares Pharma, Inc (Antares) is a specialty pharmaceutical company that focuses on developing and commercializing self-administered parenteral pharmaceutical products and technologies. The Company develops, manufactures and commercializes therapeutic products using its drug delivery systems. Its subcutaneous injection technology platforms include VIBEX disposable pressure-assisted auto injector system suitable for branded and generic injectable drugs in unit dose containers, reusable needle-free spring-action injector devices, and disposable multi-use pen injectors for use with cartridges.
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