Zacks Investment Research cut shares of Antares Pharma Inc. (NASDAQ:ATRS) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

According to Zacks, “Antares Pharma, Inc. develops, commercializes and markets novel delivery solutions, including needle-free and mini-needle injector systems, gel technologies and transdermal products, which improve both the efficiency of drug therapies and the quality of life for patients. The Company currently distributes its needle-free injector systems for the delivery of insulin and growth hormone in over 20 countries and an estradiol transdermal patch for hormone replacement therapy. “

Separately, Piper Jaffray Cos. reaffirmed an overweight rating and set a $2.00 price target (down from $3.00) on shares of Antares Pharma in a research report on Saturday, August 13th.

Antares Pharma (NASDAQ:ATRS) opened at 1.73 on Tuesday. The company’s 50-day moving average price is $1.53 and its 200 day moving average price is $1.13. The stock’s market capitalization is $268.25 million. Antares Pharma has a 52-week low of $0.67 and a 52-week high of $1.85.

Antares Pharma (NASDAQ:ATRS) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The company earned $12.20 million during the quarter, compared to analyst estimates of $11 million. Antares Pharma had a negative return on equity of 41.06% and a negative net margin of 54.98%. During the same quarter in the prior year, the business earned ($0.01) earnings per share. On average, equities research analysts predict that Antares Pharma will post ($0.15) earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Antares Pharma during the second quarter worth about $133,000. Paloma Partners Management Co purchased a new position in Antares Pharma during the second quarter valued at about $607,000. Janus Capital Management LLC purchased a new position in Antares Pharma during the second quarter valued at about $102,000. Laurion Capital Management LP purchased a new position in Antares Pharma during the second quarter valued at about $467,000. Finally, JW Asset Management LLC increased its position in Antares Pharma by 234.7% in the second quarter. JW Asset Management LLC now owns 475,897 shares of the specialty pharmaceutical company’s stock valued at $500,000 after buying an additional 333,699 shares during the last quarter. 36.34% of the stock is currently owned by institutional investors and hedge funds.

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 and manufactures pressure-assisted injector devices, with and without needles, which allow patients to self-inject drugs.

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