Aratana Therapeutics Inc. (PETX) Stock Rating Lowered by Zacks Investment Research
Aratana Therapeutics Inc. (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Aratana Therapeutics Inc. is a biopharmaceutical company for animals. The Company is developing compounds for the pet health market, including a non-COXIB analgesic for treating pain, an appetite-stimulating molecule for inappetence and licensed non-opioid local anesthetic for treating post-operative pain. It operates in the United States and Europe. Aratana Therapeutics Inc. is headquartered in Kansas City, Kansas. “
Several other research firms have also recently commented on PETX. Barclays PLC lowered their price target on shares of Aratana Therapeutics from $15.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 11th. Jefferies Group started coverage on shares of Aratana Therapeutics in a report on Friday, August 19th. They set a “buy” rating and a $13.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Aratana Therapeutics in a report on Wednesday, August 17th. Lake Street Capital reiterated a “buy” rating and set a $15.00 price target on shares of Aratana Therapeutics in a report on Tuesday, September 6th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $11.00 price target on shares of Aratana Therapeutics in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.28.
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Aratana Therapeutics (NASDAQ:PETX) opened at 9.09 on Thursday. The stock’s market cap is $321.92 million. The company’s 50 day moving average is $9.28 and its 200 day moving average is $7.44. Aratana Therapeutics has a one year low of $2.56 and a one year high of $10.73.
Aratana Therapeutics (NASDAQ:PETX) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.37. Aratana Therapeutics had a negative net margin of 166.67% and a negative return on equity of 17.53%. The firm had revenue of $38.05 million for the quarter, compared to the consensus estimate of $15.14 million. During the same period in the prior year, the firm earned ($0.23) EPS. On average, equities research analysts expect that Aratana Therapeutics will post ($0.78) EPS for the current year.
In other news, insider Ernst Heinen sold 10,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the transaction, the insider now owns 115,494 shares in the company, valued at approximately $1,154,940. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Craig A. Tooman sold 30,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $9.25, for a total transaction of $277,500.00. Following the completion of the transaction, the insider now owns 72,424 shares of the company’s stock, valued at approximately $669,922. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Advisors LLC boosted its stake in shares of Aratana Therapeutics by 3.6% in the second quarter. BlackRock Advisors LLC now owns 15,915 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 547 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Aratana Therapeutics by 3.5% in the second quarter. ProShare Advisors LLC now owns 30,392 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 1,038 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Aratana Therapeutics by 4.1% in the second quarter. Rhumbline Advisers now owns 33,189 shares of the biopharmaceutical company’s stock worth $210,000 after buying an additional 1,315 shares in the last quarter. American International Group Inc. boosted its stake in shares of Aratana Therapeutics by 10.6% in the second quarter. American International Group Inc. now owns 19,201 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 1,841 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Aratana Therapeutics by 1.4% in the first quarter. Geode Capital Management LLC now owns 183,881 shares of the biopharmaceutical company’s stock worth $1,015,000 after buying an additional 2,550 shares in the last quarter. Institutional investors and hedge funds own 85.56% of the company’s stock.
About Aratana Therapeutics
Aratana Therapeutics, Inc is a pet therapeutics company focused on licensing, developing and commercializing of biopharmaceutical products for companion animals. The Company’s portfolio includes therapeutic candidates in development consisting of small molecule pharmaceuticals and large molecule biologics that target medical conditions in pets.
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