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Wednesday, May 18, 2022

Expected Acquisition by Halozyme Therapeutics: Antares Pharma, Inc. (ATRS) Stock Rallying in Premarket.

Antares Pharma, Inc. (ATRS) is a specialty therapeutic business engaged in the production and marketing of technologies that address the needs of the patients in targeted therapeutic areas. Its shares dipped slightly by 0.27% to remain at $3.74 at the closing of Tuesday’s regular trading. Its price jumped forward by 48.4% in Wednesday’s premarket trading. The current stock price as of the writing stands at $5.55.


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ATRS: Recent Developments

ATRS is expected to enter into an approximate $960 million contract with Halozyme Therapeutics Inc. for the acquisition of the biotherapeutics business. This step will certainly deepen the company’s concentration on drug delivery. The per-share price paid by Halozyme will be $5.60 in cash in a transaction that is expected to be announced today.

ATRS stated that FDA had given the final nod for the approval of TLANDO on March 29. TLANDO, also known as testosterone undecanoate, is an oral treatment for testosterone replacement therapy and is associated with hypogonadism or an absence of endogenous testosterone in adult males.

ATRS: Industry Outlook

The international infertility drugs industry is valued at $ 3.47 billion in 2021 and is estimated to reach up to $4.95 billion by 2027 with a 5.70% CAGR through 2022-2027. Although COVID-19 has slowed the pace of their market growth certain factors are propelling the market to move forward including the mounting demand for generic medicines, improvement in healthcare infrastructure, increasing client expenditure abilities, and technological developments.

ATRS: Company Outlook

ATRS stock dwindled 6.88% over the last year and the average rating given to the company by the analysts is ‘strong buy’. The company’s mean target price is $6.50 and it has the potential to grow by 71% over the next 12-months period.

Conclusion

ATRS stock performed well in the past half-year as depicted by the gain in its stock price by 9%. In the recent thrust to the company, its shares rocketed by 48.4% as multiple sources reported that Halozyme will acquire the company in a $960 million transaction.

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