Aratana Therapeutics Inc. (PETX) Lowered to Sell at Zacks Investment Research
Aratana Therapeutics Inc. (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
PETX has been the topic of a number of other reports. 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 target price on the stock. Lake Street Capital restated a “buy” rating and set a $15.00 target price on shares of Aratana Therapeutics in a report on Tuesday, September 6th. Barclays PLC lowered their target price on shares of Aratana Therapeutics from $15.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, August 11th. William Blair reaffirmed an “outperform” rating on shares of Aratana Therapeutics in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $11.00 price objective on shares of Aratana Therapeutics in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Aratana Therapeutics has a consensus rating of “Buy” and an average price target of $11.28.
Shares of Aratana Therapeutics (NASDAQ:PETX) opened at 8.91 on Wednesday. The company’s 50 day moving average is $9.24 and its 200-day moving average is $7.55. Aratana Therapeutics has a 12 month low of $2.56 and a 12 month high of $10.73. The firm’s market cap is $315.55 million.
Aratana Therapeutics (NASDAQ:PETX) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.37. The business had revenue of $38.05 million for the quarter, compared to the consensus estimate of $15.14 million. Aratana Therapeutics had a negative net margin of 166.67% and a negative return on equity of 17.53%. During the same period in the previous year, the company earned ($0.23) earnings per share. Equities research analysts predict that Aratana Therapeutics will post ($0.78) EPS for the current year.
In other Aratana Therapeutics news, insider Craig A. Tooman sold 30,000 shares of Aratana Therapeutics 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 directly owns 72,424 shares of the company’s stock, valued at $669,922. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ernst Heinen sold 10,000 shares of Aratana Therapeutics stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the insider now directly owns 115,494 shares of the company’s stock, valued at $1,154,940. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Aratana Therapeutics by 23.7% in the first quarter. Franklin Resources Inc. now owns 5,421,549 shares of the biopharmaceutical company’s stock worth $29,927,000 after buying an additional 1,037,646 shares during the period. General American Investors Co. Inc. acquired a new stake in shares of Aratana Therapeutics during the second quarter worth about $2,604,000. First Light Asset Management LLC boosted its stake in shares of Aratana Therapeutics by 52.9% in the second quarter. First Light Asset Management LLC now owns 684,921 shares of the biopharmaceutical company’s stock worth $4,329,000 after buying an additional 236,915 shares during the last quarter. Vanguard Group Inc. increased its position in Aratana Therapeutics by 20.4% in the second quarter. Vanguard Group Inc. now owns 1,270,655 shares of the biopharmaceutical company’s stock worth $8,031,000 after buying an additional 214,900 shares during the period. Finally, Iguana Healthcare Management LLC bought a new position in Aratana Therapeutics during the first quarter worth approximately $1,070,000. 85.54% of the stock is owned by hedge funds and other institutional investors.
Aratana Therapeutics Company Profile
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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