Aratana Therapeutics Inc. (PETX) Downgraded to Hold at Zacks Investment Research
Aratana Therapeutics Inc. (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Other analysts have also issued research reports about the stock. Credit Suisse Group AG reissued a “buy” rating and issued a $11.00 price objective on shares of Aratana Therapeutics in a research report on Wednesday, August 10th. Jefferies Group reissued a “buy” rating and issued a $11.00 price objective (down previously from $13.00) on shares of Aratana Therapeutics in a research report on Friday. Lake Street Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Aratana Therapeutics in a research report on Tuesday, September 6th. William Blair reissued an “outperform” rating on shares of Aratana Therapeutics in a research report on Wednesday, August 17th. Finally, Barclays PLC cut their price objective on shares of Aratana Therapeutics from $15.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, August 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Aratana Therapeutics presently has a consensus rating of “Buy” and an average price target of $10.71.
Shares of Aratana Therapeutics (NASDAQ:PETX) opened at 7.79 on Tuesday. The company’s market capitalization is $288.57 million. Aratana Therapeutics has a one year low of $2.56 and a one year high of $10.73. The firm has a 50-day moving average of $8.52 and a 200-day moving average of $7.82.
Aratana Therapeutics (NASDAQ:PETX) last announced its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.38) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.10. Aratana Therapeutics had a negative net margin of 60.32% and a negative return on equity of 19.87%. During the same period last year, the firm earned ($1.58) EPS. Equities research analysts expect that Aratana Therapeutics will post ($0.72) EPS for the current fiscal year.
In other Aratana Therapeutics news, 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 value of $277,500.00. Following the transaction, the insider now directly owns 72,424 shares in the company, valued at $669,922. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $100,000.00. Following the completion of the transaction, the insider now owns 115,494 shares in the company, valued at $1,154,940. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Advisors LLC increased its position in Aratana Therapeutics by 3.6% in the second quarter. BlackRock Advisors LLC now owns 15,915 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 547 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Aratana Therapeutics during the third quarter valued at approximately $108,000. Gotham Asset Management LLC acquired a new position in Aratana Therapeutics during the third quarter valued at approximately $112,000. American International Group Inc. increased its position in Aratana Therapeutics by 10.6% in the second quarter. American International Group Inc. now owns 19,201 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 1,841 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in Aratana Therapeutics during the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 81.86% 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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