Antares Pharma, Inc. (ATRS)

[scubastevo80]

Has anyone revisited the financial projections for ATRS? Given the big money makers (Otrexup, QST and QSM) as well as the partnership revs (epipen, TevTropin, pen1/2), does anyone have a sales or price target out through 2017 or 2018?

I've been doing a bit of basic modeling and I'm coming up with following...
Assumptions: profit margin of 50%, tax 30%, p/e 18.5, discount rate of 10%.
Otrexup sales: using Ali Yasar sales trajectory numbers
QST: no sales til 2017, at which time they sell $50M (1% of ATRS projected Testosterone market potential of $5B in 2017)

2015
Rev = 125M
Profit = 44M
Shs o/s = 136M
Px = 5.5

2016
Rev = 285M
Profit = 100M
Shs o/s = 138M
Px = 11.1

2017
Rev = 370M
Profit = 130M
Shs o/s = 140M
Px = 12.9