Antares Pharma (ATRS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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Antares Pharma (NASDAQ:ATRS) issued its quarterly earnings data on Tuesday. The specialty pharmaceutical company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01, MarketWatch Earnings reports. Antares Pharma had a negative net margin of 35.53% and a negative return on equity of 64.96%. The firm had revenue of $17.87 million for the quarter, compared to analyst estimates of $15.13 million.

ATRS traded down $0.07 during trading hours on Wednesday, hitting $3.54. 1,389,427 shares of the company’s stock were exchanged, compared to its average volume of 1,265,481. Antares Pharma has a 12-month low of $1.58 and a 12-month high of $3.93. The company has a market cap of $547.88 million, a P/E ratio of -32.18 and a beta of 0.55. The company has a quick ratio of 1.89, a current ratio of 2.33 and a debt-to-equity ratio of 1.01.

ATRS has been the topic of several recent analyst reports. BidaskClub lowered shares of Antares Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 6th. Jefferies Financial Group upped their price objective on shares of Antares Pharma to $7.00 and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $4.00 price objective on shares of Antares Pharma in a report on Friday, August 17th. Raymond James upped their price objective on shares of Antares Pharma from $3.85 to $5.25 and gave the stock a “strong-buy” rating in a report on Tuesday, October 2nd. Finally, HC Wainwright set a $5.00 price objective on shares of Antares Pharma and gave the stock a “buy” rating in a report on Monday, October 1st. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $5.44.

In related news, CEO Robert F. Apple sold 43,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $3.75, for a total transaction of $161,250.00. Following the sale, the chief executive officer now directly owns 1,573,562 shares of the company’s stock, valued at approximately $5,900,857.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Gonella sold 49,507 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $3.09, for a total transaction of $152,976.63. Following the sale, the director now directly owns 9,985,848 shares in the company, valued at $30,856,270.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,507 shares of company stock worth $1,830,227. 12.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY increased its stake in Antares Pharma by 127.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 51,612 shares of the specialty pharmaceutical company’s stock worth $133,000 after buying an additional 28,875 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Antares Pharma by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 744,188 shares of the specialty pharmaceutical company’s stock valued at $1,921,000 after purchasing an additional 32,626 shares during the last quarter. JW Asset Management LLC increased its position in shares of Antares Pharma by 2.8% in the 2nd quarter. JW Asset Management LLC now owns 1,820,524 shares of the specialty pharmaceutical company’s stock valued at $4,697,000 after purchasing an additional 50,000 shares during the last quarter. Perkins Capital Management Inc. increased its position in shares of Antares Pharma by 37.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 435,000 shares of the specialty pharmaceutical company’s stock valued at $1,462,000 after purchasing an additional 117,500 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Antares Pharma by 7.4% in the 2nd quarter. Northern Trust Corp now owns 1,718,251 shares of the specialty pharmaceutical company’s stock valued at $4,433,000 after purchasing an additional 119,091 shares during the last quarter. 38.62% of the stock is currently owned by hedge funds and other institutional investors.

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About Antares Pharma

Antares Pharma, Inc, a specialty pharmaceutical company, focuses on developing and commercializing self-administered parenteral pharmaceutical products and technologies worldwide. The company's injection products include OTREXUP that comprises of pre-filled methotrexate syringe and VIBEX self-injection system to enable rheumatoid arthritis (RA) and psoriasis patients to self-inject methotrexate at home; and Sumatriptan Injection USP for the acute treatment of migraine and cluster headache in adults.

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Earnings History for Antares Pharma (NASDAQ:ATRS)

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