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Here’s Why Antares Pharma Stock Rose on October 2

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Antares Pharma’s stock price movement

Antares Pharma (ATRS) rose a solid 15.64% from $3.26 on October 1 to $3.77 on October 2. The rise was mainly attributable to FDA approval for the company’s Xyosted product. On October 1, 2018, the company announced that its Xyosted injection coupled with the QuickShot auto injector has gotten FDA approval as a testosterone replacement therapy in three dosage strengths of 50 mg, 75 mg, and 100 mg. As noted in Antares Pharma’s press release, Symphony Health Solutions has estimated the total number of retail prescriptions in the testosterone replacement market in 2017 at around 6.5 million. Of these, 66% of the prescriptions were for injectable therapies, while 32% were for topical therapies.

Antares Pharma closed at $3.77 on October 2, 2018, which was 138.61% higher than its 52-week low price of $1.58 and 7.82% lower than its 52-week high price of $4.09.

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Analysts’ recommendations for Antares Pharma

The 12-month consensus analyst recommendation for Antares Pharma on October 3 is a “strong buy.” Of the five analysts covering Antares Pharma in October 2018, three analysts have recommended the company as a “strong buy,” and two analysts have recommended the company as a “buy.”

The 12-month consensus target price for Antares Pharma is $5.2, which is 37.93% higher than the company’s last closing price on October 2. The consensus target price for the company has increased significantly from $3.86 on October 4, 2017.

Performance in Q2 2018

In Q2 2018, Antares Pharma reported revenues of $14.16 million, which is a year-over-year (or YoY) rise of 5.8%. The company managed to beat the consensus estimate by $0.95 million in Q2 2018. Antares Pharma also reported a loss per share of $0.03, which was higher than the consensus estimate by $0.01.

In the next article, we’ll discuss the revenue growth prospects of Antares Pharma in greater detail.

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