Aratana Therapeutics Inc. (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
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 subject of a number of other research reports. Barclays PLC reduced their price objective on Aratana Therapeutics from $15.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 11th. Jefferies Group began coverage on Aratana Therapeutics in a report on Friday, August 19th. They set a “buy” rating and a $13.00 price objective for the company. William Blair restated an “outperform” rating on shares of Aratana Therapeutics in a report on Wednesday, August 17th. Lake Street Capital restated a “buy” rating and set a $15.00 price objective on shares of Aratana Therapeutics in a report on Tuesday, September 6th. Finally, Credit Suisse Group AG restated a “buy” rating and set a $11.00 price objective on shares of Aratana Therapeutics in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $11.28.
Aratana Therapeutics (NASDAQ:PETX) opened at 8.53 on Thursday. Aratana Therapeutics has a 12 month low of $2.56 and a 12 month high of $10.73. The company’s market capitalization is $302.09 million. The firm has a 50-day moving average price of $9.27 and a 200-day moving average price of $7.48.
Aratana Therapeutics (NASDAQ:PETX) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.37. Aratana Therapeutics had a negative return on equity of 17.53% and a negative net margin of 166.67%. The company earned $38.05 million during the quarter, compared to analysts’ expectations of $15.14 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. On average, equities analysts anticipate that Aratana Therapeutics will post ($0.78) earnings per share for the current fiscal year.
In other Aratana Therapeutics news, insider Peter Steven St sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $9.25, for a total transaction of $462,500.00. Following the completion of the transaction, the insider now directly owns 642,793 shares in the company, valued at $5,945,835.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Craig A. Tooman sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 72,424 shares of the company’s stock, valued at $669,922. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PETX. Algert Global LLC purchased a new position in shares of Aratana Therapeutics during the third quarter valued at approximately $221,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Aratana Therapeutics during the second quarter valued at approximately $162,000. First Light Asset Management LLC increased its position 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 valued at $4,329,000 after buying an additional 236,915 shares in the last quarter. A.R.T. Advisors LLC increased its position in shares of Aratana Therapeutics by 81.5% in the second quarter. A.R.T. Advisors LLC now owns 71,515 shares of the biopharmaceutical company’s stock valued at $451,000 after buying an additional 32,111 shares in the last quarter. Finally, Bridgeway Capital Management Inc. increased its position in shares of Aratana Therapeutics by 85.1% in the second quarter. Bridgeway Capital Management Inc. now owns 86,983 shares of the biopharmaceutical company’s stock valued at $550,000 after buying an additional 40,000 shares in the last quarter. Institutional investors and hedge funds own 85.56% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aratana Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aratana Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.