Why Antares Pharma, Inc. (ATRS) Stock Crashed Nearly -2.77% Today

Antares Pharma, Inc. (NASDAQ:ATRS) is one of the stocks that are grabbing investor focus today: sinking -2.77% or (-0.14 points) to $4.92 from its previous close of $5.06. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 910362 contracts so far this session. ATRS shares had a relatively better volume day versus average trading capacity of 1.57 million shares, but with a 0.15 billion float and a 5.2% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ATRS stock indicates that the average analyst price target is $6.44 per share. This means the stock has a potential increase of 30.89% from where the ATRS share price has been trading recently which is between $4.87 and $5.13.

During the recent trading session for Antares Pharma, Inc. (NASDAQ:ATRS), the company witnessed their stock rise $0.33 over a week and surge $1.25 from the price 20 days ago. When compared to their established 52-week high of $5.13, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/12/19. The recent low of $2.53 stood for a -4.09% since 12/28/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.94 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Antares Pharma, Inc., the two-week RSI stands at 71.63. This figure suggests that ATRS stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current ATRS readings is similarly very revealing as it has a stochastic reading of 89.59% at this stage. This figure means that ATRS share price today is being oversold.

Technical chart claims that Antares Pharma, Inc. (ATRS) would settle between $5.17/share to $5.28/share level. However, if the stock price goes below the $4.91 mark, then the market for Antares Pharma, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.76 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.14. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at H.C. Wainwright lifted target price for shares of ATRS but were stick to Buy recommendation for the stock in their opinion released on October 23. The price target has been raised from $5 to $3.50. H.C. Wainwright, analysts launched coverage of Antares Pharma, Inc. (NASDAQ:ATRS) stock with a Buy recommendation, according to their flash note issued to investors on June 23. Analysts at Raymond James, made their first call for the equity with a Strong Buy recommendation, according to a research note that dated back to April 21.

ATRS equity has an average rating of 1.71, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Antares Pharma, Inc. (NASDAQ:ATRS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, ATRS stock price is currently trading at 34.66X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 55.2. Antares Pharma, Inc. current P/B ratio of 18.6 means it is trading at a premium against its industry’s 4.1.