California Public Employees Retirement System Sells 321,600 Shares of Antares Pharma Inc (ATRS)

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California Public Employees Retirement System trimmed its holdings in shares of Antares Pharma Inc (NASDAQ:ATRS) by 39.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,600 shares of the specialty pharmaceutical company’s stock after selling 321,600 shares during the period. California Public Employees Retirement System owned about 0.31% of Antares Pharma worth $1,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Antares Pharma by 533.6% during the first quarter. JPMorgan Chase & Co. now owns 448,634 shares of the specialty pharmaceutical company’s stock worth $987,000 after purchasing an additional 377,824 shares in the last quarter. Mycio Wealth Partners LLC acquired a new position in shares of Antares Pharma during the second quarter worth $6,278,000. Russell Investments Group Ltd. lifted its position in shares of Antares Pharma by 27.5% during the second quarter. Russell Investments Group Ltd. now owns 1,135,517 shares of the specialty pharmaceutical company’s stock worth $2,930,000 after purchasing an additional 245,032 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Antares Pharma by 4.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 744,188 shares of the specialty pharmaceutical company’s stock worth $1,921,000 after purchasing an additional 32,626 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Antares Pharma by 7.3% during the second quarter. BlackRock Inc. now owns 9,805,325 shares of the specialty pharmaceutical company’s stock worth $25,298,000 after purchasing an additional 664,681 shares in the last quarter. 38.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on the stock. ValuEngine cut shares of Antares Pharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies reissued a “buy” rating and set a $4.00 target price on shares of Antares Pharma in a research report on Friday, August 17th. HC Wainwright set a $5.00 target price on shares of Antares Pharma and gave the stock a “buy” rating in a research report on Friday, August 17th. BidaskClub cut shares of Antares Pharma from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, Jefferies Financial Group upped their price target on shares of Antares Pharma to $7.00 and gave the company a “buy” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.31.

ATRS opened at $3.49 on Tuesday. The firm has a market capitalization of $547.88 million, a P/E ratio of -31.73 and a beta of 0.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.89 and a current ratio of 2.33. Antares Pharma Inc has a 12-month low of $1.58 and a 12-month high of $3.93.

Antares Pharma (NASDAQ:ATRS) last posted its quarterly earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $14.16 million during the quarter, compared to analyst estimates of $13.70 million. Antares Pharma had a negative net margin of 35.53% and a negative return on equity of 64.96%. As a group, equities research analysts anticipate that Antares Pharma Inc will post -0.11 EPS for the current fiscal year.

In related news, CEO Robert F. Apple sold 43,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $3.75, for a total value of $161,250.00. Following the sale, the chief executive officer now directly owns 1,573,562 shares of the company’s stock, valued at $5,900,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Gonella sold 250,493 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $3.09, for a total transaction of $774,023.37. Following the completion of the sale, the director now directly owns 10,035,355 shares in the company, valued at $31,009,246.95. The disclosure for this sale can be found here. Insiders sold 743,000 shares of company stock worth $2,604,250 over the last ninety days. 12.20% of the stock is currently owned by corporate insiders.

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About Antares Pharma

Antares Pharma, Inc, a specialty pharmaceutical company, focuses on developing and commercializing self-administered parenteral pharmaceutical products and technologies worldwide. The company's injection products include OTREXUP that comprises of pre-filled methotrexate syringe and VIBEX self-injection system to enable rheumatoid arthritis (RA) and psoriasis patients to self-inject methotrexate at home; and Sumatriptan Injection USP for the acute treatment of migraine and cluster headache in adults.

Read More: Insider Trading

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Institutional Ownership by Quarter for Antares Pharma (NASDAQ:ATRS)

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