Published on 14 Apr 2022 on Zacks via Yahoo Finance

Antares Pharma (ATRS) Moves 49.2% Higher: Will This Strength Last?

Antares Pharma ATRS shares ended the last trading session 49.2% higher at $5.58. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.8% loss over the past four weeks.

Antares Pharma recorded a strong price increase following its announcement of its entry into a definitive acquisition agreement with Halozyme Therapeutics, Inc. Pursuant to the agreement, Halozyme will acquire Antares, where it values the latter at approximately $960 million. The combination of Halozyme and Antares is expected to create a leading drug delivery and specialty product company, raising optimism.

This drugmaker is expected to post break-even quarterly earnings per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $43.89 million, up 4.3% from the year-ago quarter.