Antares Pharma Inc. [ATRS] stock Initiated by Truist analyst, price target now $7


Antares Pharma Inc. [NASDAQ: ATRS] traded at a high on 05/12/22, posting a 0.18 gain after which it closed the day’ session at $5.57. The company report on May 12, 2022 that Hart-Scott-Rodino Waiting Period Expires for Halozyme’s Acquisition of Antares Pharma.

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Halozyme Therapeutics, Inc. (NASDAQ: HALO) (“Halozyme”) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), applicable to Halozyme’s proposed acquisition of Antares Pharma, Inc. (NASDAQ: ATRS) (“Antares”) has expired.

On April 26, 2022, Halozyme commenced a tender offer (the “Offer”) to purchase all outstanding shares of common stock of Antares (the “Shares”) for $5.60 per share in cash, without interest thereon and net of any applicable withholding taxes. As a result of the expiration of the waiting period under the HSR Act, the condition to the Offer relating to the expiration or termination of the waiting period under the HSR Act has been satisfied.

The results of the trading session contributed to over 7105135 shares changing hands. Over the past one week, the price volatility of Antares Pharma Inc. stands at 0.36% while the volatility over the past one month is 0.36%.

The market cap for ATRS stock reached $950.13 million, with 170.06 million shares outstanding and 166.99 million shares in the current float. Compared to the average trading volume of 4.63M shares, ATRS reached a trading volume of 7105135 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Antares Pharma Inc. [ATRS]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ATRS shares is $5.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ATRS stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Truist have made an estimate for Antares Pharma Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, H.C. Wainwright dropped their target price from $5 to $3.50. The new note on the price target was released on October 23, 2017, representing the official price target for Antares Pharma Inc. stock. Previously, the target price had yet another raise to $5, while H.C. Wainwright analysts kept a Buy rating on ATRS stock.

The Average True Range (ATR) for Antares Pharma Inc. is set at 0.08, with the Price to Sales ratio for ATRS stock in the period of the last 12 months amounting to 5.16. The Price to Book ratio for the last quarter was 5.41, with the Price to Cash per share for the same quarter was set at 0.39. Price to Free Cash Flow for ATRS in the course of the last twelve months was 31.67 with Quick ratio for the last quarter at 2.80.

How has ATRS stock performed recently?

Antares Pharma Inc. [ATRS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.18. With this latest performance, ATRS shares gained by 48.93% in over the last four-week period, additionally plugging by 47.35% over the last 6 months – not to mention a rise of 46.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ATRS stock in for the last two-week period is set at 77.80, with the RSI for the last a single of trading hit 78.25, and the three-weeks RSI is set at 76.07 for Antares Pharma Inc. [ATRS]. The present Moving Average for the last 50 days of trading for this stock 4.62, while it was recorded at 5.56 for the last single week of trading, and 3.86 for the last 200 days.

Antares Pharma Inc. [ATRS]: Deeper insight into the fundamentals

Antares Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 3.00.

Insider trade positions for Antares Pharma Inc. [ATRS]

There are presently around $493 million, or 52.60% of ATRS stock, in the hands of institutional investors. The top three institutional holders of ATRS stocks are: BLACKROCK INC. with ownership of 11,954,171, which is approximately -0.574% of the company’s market cap and around 2.30% of the total institutional ownership; RUBRIC CAPITAL MANAGEMENT LP, holding 10,800,000 shares of the stock with an approximate value of $60.05 million in ATRS stocks shares; and VANGUARD GROUP INC, currently with $46.98 million in ATRS stock with ownership of nearly -1.855% of the company’s market capitalization.

Positions in Antares Pharma Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 74 institutional holders increased their position in Antares Pharma Inc. [NASDAQ:ATRS] by around 12,030,390 shares. Additionally, 72 investors decreased positions by around 6,076,300 shares, while 39 investors held positions by with 70,625,675 shares. The mentioned changes placed institutional holdings at 88,732,365 shares, according to the latest SEC report filing. ATRS stock had 20 new institutional investments in for a total of 1,314,764 shares, while 12 institutional investors sold positions of 1,388,482 shares during the same period.