Zacks Investment Research Lowers Aratana Therapeutics Inc (PETX) to Hold

Posted by ABMN Staff on Mar 19th, 2016

Aratana Therapeutics Inc (NASDAQ:PETX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, AnalystRatingsNetwork.com reports.

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. “

A number of large investors have modified their holdings of the company. Millennium Management LLC increased its stake in shares of Aratana Therapeutics by 320.2% in the fourth quarter. Millennium Management LLC now owns 995,383 shares of the biopharmaceutical company’s stock worth $5,554,000 after buying an additional 758,484 shares during the last quarter. Jennison Associates increased its stake in shares of Aratana Therapeutics by 20.8% in the third quarter. Jennison Associates now owns 4,146,200 shares of the biopharmaceutical company’s stock valued at $35,077,000 after buying an additional 714,413 shares during the period. Grandeur Peak Global Advisors LLC increased its stake in shares of Aratana Therapeutics by 2,152.7% in the fourth quarter. Grandeur Peak Global Advisors LLC now owns 460,675 shares of the biopharmaceutical company’s stock valued at $2,571,000 after buying an additional 440,225 shares during the period. Eagle Asset Management increased its stake in shares of Aratana Therapeutics by 188.4% in the third quarter. Eagle Asset Management now owns 580,014 shares of the biopharmaceutical company’s stock valued at $4,906,000 after buying an additional 378,920 shares during the period. Finally, First Light Asset Management LLC increased its stake in shares of Aratana Therapeutics by 376.5% in the fourth quarter. First Light Asset Management LLC now owns 395,043 shares of the biopharmaceutical company’s stock valued at $2,204,000 after buying an additional 312,132 shares during the period.

Other equities research analysts have also issued research reports about the company. Craig Hallum reduced their price objective on Aratana Therapeutics from $11.00 to $7.00 and set a “hold” rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their price target on Aratana Therapeutics from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair restated an “outperform” rating on shares of Aratana Therapeutics in a report on Wednesday, February 24th. Credit Suisse initiated coverage on Aratana Therapeutics in a research note on Wednesday, February 3rd. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Jefferies Group reiterated a “buy” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Aratana Therapeutics in a report on Wednesday, January 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Aratana Therapeutics presently has a consensus rating of “Buy” and an average target price of $12.81.

Aratana Therapeutics (NASDAQ:PETX) opened at 4.51 on Friday. The firm’s 50-day moving average price is $3.56 and its 200-day moving average price is $6.91. The company’s market cap is $157.87 million. Aratana Therapeutics has a 12-month low of $2.56 and a 12-month high of $19.99.

Aratana Therapeutics (NASDAQ:PETX) last posted its earnings results on Monday, March 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.04. The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.21 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s quarterly revenue was down 76.0% compared to the same quarter last year. Equities research analysts forecast that Aratana Therapeutics will post ($1.36) earnings per share for the current fiscal year.

Aratana Therapeutics, Inc is a pet therapeutics company focused on licensing, developing and commercializing of biopharmaceutical products for companion animals. The Company has licensed and is developing more than 18 therapeutic candidates in development consisting of small molecule pharmaceuticals and large molecule biologics that target serious medical conditions, such as pain and inflammation, stimulation of appetite, cancer and other serious diseases for dogs and cats.