-$0.03 EPS Expected for Antares Pharma, Inc. (ATRS) This Quarter
Analysts expect Antares Pharma, Inc. (NASDAQ:ATRS) to post earnings of ($0.03) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Antares Pharma’s earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at ($0.02). Antares Pharma reported earnings of ($0.04) per share during the same quarter last year, which indicates a positive year over year growth rate of 25%. The firm is expected to issue its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Antares Pharma will report full year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.16) to ($0.11). For the next fiscal year, analysts anticipate that the company will report earnings of $0.00 per share, with EPS estimates ranging from ($0.11) to $0.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Antares Pharma.
Antares Pharma (NASDAQ:ATRS) last announced its earnings results on Tuesday, May 9th. The specialty pharmaceutical company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. Antares Pharma had a negative return on equity of 45.05% and a negative net margin of 41.26%. The company had revenue of $12.01 million during the quarter, compared to analyst estimates of $12.10 million.
ATRS has been the subject of several analyst reports. Raymond James Financial, Inc. initiated coverage on Antares Pharma in a research note on Thursday, April 20th. They issued a “strong-buy” rating and a $4.30 price objective for the company. Vetr downgraded Antares Pharma from a “strong-buy” rating to a “buy” rating and set a $3.47 price objective for the company. in a research note on Monday, June 26th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Antares Pharma in a research note on Friday, June 23rd. Finally, Chardan Capital initiated coverage on Antares Pharma in a research note on Friday, June 23rd. They issued a “buy” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $3.50.
In related news, insider Fred M. Powell acquired 130,000 shares of the stock in a transaction dated Friday, June 9th. The stock was purchased at an average cost of $2.79 per share, with a total value of $362,700.00. Following the completion of the purchase, 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 through this hyperlink. Corporate insiders own 11.60% of the company’s stock.
Several hedge funds have recently modified their holdings of ATRS. Rubric Capital Management LP increased its stake in shares of 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 worth $6,736,000 after buying an additional 1,207,622 shares during the last quarter. Morgan Stanley increased its stake in shares of Antares Pharma by 153.3% in the first quarter. Morgan Stanley now owns 996,113 shares of the specialty pharmaceutical company’s stock worth $2,829,000 after buying an additional 602,834 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Antares Pharma during the first quarter worth approximately $1,373,000. Goldman Sachs Group Inc. increased its stake in shares of Antares Pharma by 338.0% in the first quarter. Goldman Sachs Group Inc. now owns 576,664 shares of the specialty pharmaceutical company’s stock worth $1,638,000 after buying an additional 445,009 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Antares Pharma by 10.3% in the first quarter. Renaissance Technologies LLC now owns 3,152,569 shares of the specialty pharmaceutical company’s stock worth $8,953,000 after buying an additional 293,228 shares during the last quarter. 32.04% of the stock is owned by institutional investors.
Shares of Antares Pharma (ATRS) remained flat at $3.29 during mid-day trading on Monday. 1,154,012 shares of the company’s stock traded hands. Antares Pharma has a 12-month low of $0.98 and a 12-month high of $3.37. The firm has a 50-day moving average price of $2.76 and a 200-day moving average price of $2.58. The firm’s market cap is $513.00 million.
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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