Aratana Therapeutics Inc. (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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 several other reports. Barclays PLC decreased their target price on Aratana Therapeutics from $15.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 11th. Jefferies Group started coverage on Aratana Therapeutics in a research note on Friday, August 19th. They set a “buy” rating and a $13.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Aratana Therapeutics in a research note on Wednesday, August 17th. Lake Street Capital reiterated a “buy” rating and set a $15.00 price target on shares of Aratana Therapeutics in a research note on Tuesday, September 6th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $11.00 price target on shares of Aratana Therapeutics in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Aratana Therapeutics presently has a consensus rating of “Buy” and an average price target of $11.28.
Aratana Therapeutics (NASDAQ:PETX) opened at 8.91 on Wednesday. The firm’s market cap is $315.55 million. The company has a 50-day moving average price of $9.24 and a 200-day moving average price of $7.55. Aratana Therapeutics has a 1-year low of $2.56 and a 1-year high of $10.73.
Aratana Therapeutics (NASDAQ:PETX) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned $38.05 million during the quarter, compared to analyst estimates of $15.14 million. During the same period last year, the firm posted ($0.23) EPS. On average, equities research analysts forecast that Aratana Therapeutics will post ($0.78) EPS for the current fiscal year.
In other news, insider Peter Steven St sold 50,000 shares of Aratana Therapeutics stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $9.25, for a total transaction of $462,500.00. Following the completion of the sale, the insider now owns 642,793 shares in the company, valued at approximately $5,945,835.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Craig A. Tooman sold 30,000 shares of Aratana Therapeutics stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $9.25, for a total value of $277,500.00. Following the sale, the insider now owns 72,424 shares of the company’s stock, valued at approximately $669,922. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Investment Management LLC increased its stake in shares of Aratana Therapeutics by 15.9% in the second quarter. BlackRock Investment Management LLC now owns 125,058 shares of the biopharmaceutical company’s stock worth $790,000 after buying an additional 17,157 shares during the period. BlackRock Advisors LLC increased its stake in shares of Aratana Therapeutics by 3.6% in the second quarter. BlackRock Advisors LLC now owns 15,915 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 547 shares during the period. Vanguard Group Inc. increased its stake in shares of Aratana Therapeutics by 20.4% in the second quarter. Vanguard Group Inc. now owns 1,270,655 shares of the biopharmaceutical company’s stock worth $8,031,000 after buying an additional 214,900 shares during the period. Blair William & Co. IL increased its stake in shares of Aratana Therapeutics by 9.8% in the second quarter. Blair William & Co. IL now owns 603,652 shares of the biopharmaceutical company’s stock worth $3,815,000 after buying an additional 53,703 shares during the period. Finally, General American Investors Co. Inc. acquired a new stake in shares of Aratana Therapeutics during the second quarter worth about $2,604,000. Hedge funds and other institutional investors own 85.54% 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.