Friday, March 31, 2017 10:57:41 AM
Jefferies doubles Antares price target to $6 from $3 Jefferies analyst Anthony Petrone doubled this price target on shares of Antares Pharma to $6 from $3. The stock in early trading is up 7c to $2.81. In a research note today to investors, Petrone said his thesis on the company continues to be that its pipeline is well positioned to see a "succession of positive catalysts" over the next 24 months. Five pipeline products through 2019 collectively address $8B in new market opportunities, Petrone contends. He sees potential share upside to $15 with successful product launches "overtime." The FDA action date for Quickshot Testosterone, Antares' sub-Q testosterone replacement therapy, is October 20, 2017. Based on a "strong" clinical profile, the analyst assumes QST can capture 50% from existing brands or 15% of the total market.
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