Aratana Therapeutics Trading Up 9.1% Following Earnings Beat (PETX)
Aratana Therapeutics (NASDAQ:PETX)’s share price was up 9.1% during trading on Tuesday following a better than expected earnings announcement, AnalystRatings.Net reports. The stock traded as high as $11.36 and last traded at $11.35, with a volume of 128,454 shares traded. The stock had previously closed at $10.40.
The company reported ($0.32) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.36) by $0.04.
Several analysts have recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Aratana Therapeutics in a research note on Friday, June 6th. They now have a $23.00 price target on the stock, down previously from $25.00. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Aratana Therapeutics in a research note on Wednesday, May 14th. They now have a $22.00 price target on the stock, down previously from $30.00. Four analysts have rated the stock with a buy rating, Aratana Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $30.40.
The stock’s 50-day moving average is $13.65 and its 200-day moving average is $16.07. The company’s market cap is $322.4 million.
Aratana Therapeutics, Inc is a development-stage biopharmaceutical company. As of March 20, 2013, the Company has three licensed compounds in development for six product approvals in cats and dogs in each of the United States and Europe.
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