HC Wainwright Analysts Give Aratana Therapeutics (PETX) a $10.00 Price Target
Aratana Therapeutics (NASDAQ:PETX) has been given a $10.00 price target by stock analysts at HC Wainwright in a report issued on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 91.57% from the company’s current price.
The analysts wrote, “Galliprant Approved in EU; Additional Product Approvals Expected in 2018; Reiterate Buy Galliprant approved for canine osteoarthritis in Europe. On January 11, Aratana announced that the EMA has granted Galliprant marketing approval for the treatment of pain associated with mild to moderate osteoarthritis in dogs. Galliprant is licensed to Elanco, the animal health division of Eli Lilly (LLY; not rated), who has exclusive rights to commercialize the drug globally. Galliprant was first approved in the US in March 2016, and in the nine months ended September 30, 2017, generated approximately $9M in product sales and $4M in license and collaboration revenue for Aratana. Going forward, Elanco has assumed all development, regulatory and manufacturing responsibilities for Galliprant, and we expect the company to launch the drug in Europe in 2Q18.””
Several other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Aratana Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. CL King initiated coverage on shares of Aratana Therapeutics in a report on Wednesday, December 27th. They issued a “neutral” rating on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $6.00 target price on shares of Aratana Therapeutics in a report on Monday, December 18th. Zacks Investment Research downgraded shares of Aratana Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, November 18th. Finally, Jefferies Group set a $9.00 target price on shares of Aratana Therapeutics and gave the stock a “buy” rating in a report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.55.
Aratana Therapeutics (NASDAQ:PETX) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. Aratana Therapeutics had a negative net margin of 358.55% and a negative return on equity of 48.79%. The business had revenue of $6.16 million for the quarter, compared to the consensus estimate of $6.47 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The company’s revenue for the quarter was up 1440.0% on a year-over-year basis. research analysts expect that Aratana Therapeutics will post -1.03 EPS for the current year.
In related news, major shareholder Healthcare Master Fun Broadfin sold 890,516 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $5.70, for a total value of $5,075,941.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Steven St sold 50,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $7.00, for a total transaction of $350,000.00. Following the completion of the sale, the insider now owns 529,359 shares in the company, valued at approximately $3,705,513. The disclosure for this sale can be found here. Insiders sold 1,087,032 shares of company stock worth $6,344,891 in the last three months. Insiders own 5.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PETX. Rhumbline Advisers increased its position in Aratana Therapeutics by 16.4% in the second quarter. Rhumbline Advisers now owns 48,214 shares of the biopharmaceutical company’s stock worth $349,000 after purchasing an additional 6,800 shares during the last quarter. Bank of New York Mellon Corp increased its position in Aratana Therapeutics by 8.9% during the second quarter. Bank of New York Mellon Corp now owns 137,102 shares of the biopharmaceutical company’s stock valued at $992,000 after acquiring an additional 11,229 shares during the last quarter. Wells Fargo & Company MN increased its position in Aratana Therapeutics by 10.1% during the second quarter. Wells Fargo & Company MN now owns 303,988 shares of the biopharmaceutical company’s stock valued at $2,197,000 after acquiring an additional 27,836 shares during the last quarter. Alliancebernstein L.P. increased its position in Aratana Therapeutics by 26.1% during the second quarter. Alliancebernstein L.P. now owns 49,350 shares of the biopharmaceutical company’s stock valued at $357,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Aratana Therapeutics by 34.5% during the second quarter. Teachers Advisors LLC now owns 72,244 shares of the biopharmaceutical company’s stock valued at $522,000 after acquiring an additional 18,526 shares during the last quarter. Institutional investors own 73.76% 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.
Receive News & Ratings for Aratana Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aratana Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.