Shares of Antares Pharma, Inc. (NASDAQ:ATRS) dropped 6.2% during trading on Tuesday . The company traded as low as $1.80 and last traded at $1.82. Approximately 1,188,300 shares changed hands during trading, a decline of 23% from the average daily volume of 1,536,177 shares. The stock had previously closed at $1.94.

ATRS has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $3.50 target price on shares of Antares Pharma in a research report on Wednesday, November 8th. Piper Jaffray Companies reiterated a “buy” rating on shares of Antares Pharma in a research report on Friday, September 8th. Finally, ValuEngine cut Antares Pharma from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $3.84.

The company has a quick ratio of 2.89, a current ratio of 3.34 and a debt-to-equity ratio of 0.69.

Antares Pharma (NASDAQ:ATRS) last released its quarterly earnings results on Tuesday, November 7th. The specialty pharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.03). Antares Pharma had a negative return on equity of 43.05% and a negative net margin of 32.06%. The firm had revenue of $15.10 million for the quarter, compared to analyst estimates of $14.01 million. The company’s quarterly revenue was up 11.9% on a year-over-year basis. equities research analysts predict that Antares Pharma, Inc. will post -0.11 EPS for the current fiscal year.

In related news, Director Leonard S. Jacob sold 230,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $4.05, for a total transaction of $931,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas J. Garrity sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $3.50, for a total value of $105,000.00. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Advantage Inc. purchased a new stake in Antares Pharma in the 3rd quarter valued at approximately $110,000. Alliancebernstein L.P. purchased a new stake in Antares Pharma in the 2nd quarter valued at approximately $119,000. Legal & General Group Plc purchased a new stake in Antares Pharma in the 2nd quarter valued at approximately $120,000. MML Investors Services LLC boosted its holdings in Antares Pharma by 228.2% in the 2nd quarter. MML Investors Services LLC now owns 43,147 shares of the specialty pharmaceutical company’s stock valued at $139,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Credit Suisse AG purchased a new stake in Antares Pharma in the 1st quarter valued at approximately $146,000. 34.62% of the stock is currently owned by hedge funds and other institutional investors.

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Antares Pharma Company Profile

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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