The stock of Antares Pharma, Inc. (NASDAQ:ATRS) is now priced at $2.83 and the shares are 0.08 points up or 2.91% higher compared to its previous closing price of $2.75. The stock had 1.088 million contracts set over the past session. ATRS shares’ daily volume is compared to its average trading volume at 1.031 million shares. However, it has a float of 154 million and although its performance was 8.43% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ATRS share price recently placing at $2.725 to $2.895. However, some brokerage firms have priced the stock below the average, including one that has called $4.5.
The shorts are climbing into the Antares Pharma, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ATRS shares have risen. Short interest in the stock represents just 3.31% of its float, but the volume has raised by 131190. The volume of shorted shares rised to 5.088 million from 4.957 million shares over the last two weeks. The average intraday trading volume has been 1.072 million shares, which means that days to cover moved to roughly 4.746253.
In the last trading session, Antares Pharma, Inc. (NASDAQ:ATRS) raised by $0.22 over the week and gained $0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.13. The stock recorded its established 52-week high on 12/03/19.
Since 03/23/20, the stock has traded to a low of $1.6 at 76.87%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.2. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Antares Pharma, Inc.’s two-week RSI is 52.22. This suggests that the stock is neutral at the moment and that ATRS shares’ price movement remains stable. The stochastic readings are equally revealing at 30.97% meaning the ATRS share price is currently in neutral territory.
The technical chart shows that the ATRS stock will likely settle at between $2.91 and $2.99 per share. However, if the stock dips below $2.74, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.65.
Currently, the stock is trading in the green of MACD, with a reading of 0.01. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright though dropped target price of ATRS stock from $5 to $3.50 but maintained Buy recommendation in their October 23 review. H.C. Wainwright analysts see the stock as a Buy with a target price of $5 in a flash note released to investors on June 23 initiating covering the stock. Raymond James analysts see the stock as Strong Buy when the analysts initiated the share price coverage on April 21.
The average rating for the ATRS equity is 1.5 and is currently gathering a bullish momentum. Of 6 analysts tracking Antares Pharma, Inc. polled by Reuters, 0 rated ATRS as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ATRS stock price is 10.97X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 72.7 below the group’s average of 82.9. Antares Pharma, Inc. has its P/E ratio at 8.2, which means that the stock is currently trading at a premium relative to the 4.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Antares Pharma, Inc. (NASDAQ:ATRS) will decrease by about -99.89%, which will see them reach $35.67 million. The company’s full-year revenues are, however, expected to increase by about 13.8%, up from $124 million to $141 million. ATRS’s expected adjusted earnings should surge almost 100% to end up at $0.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -700% to record $0.06/share.