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|Stock Price at Underperform Recommendation||$2.58|
|Star Rating (out of 5)||***|
|Market Cap||$271 million|
|Industry Peers||Jazz Pharmaceuticals |
Sources: S&P Capital IQ, Yahoo! Finance, and Motley Fool CAPS
A large float allows Antares to hide a generous market cap of 270M behind a puny share price of 2.6. Antares' share price has nearly doubled this year, likely due to enthusiasm over potential FDA approval of Anturol for overactive bladder on 12/8/11. Antares also has some stake in [BioSante Pharmaceuticals'
I'm not too excited about Anturol. Approved or not, this is a transdermal reformulation of a medication that has been generic in the oral form for years. Of course, the company has a million and one reasons why Anturol is better than generic oral oxybutynin but I'm not convinced that urologists will buy in. In July the company partnered Anturol with [Watson Pharmaceuticals
Libigel is more of a wild card. Antares has international marketing rights if Libigel is approved, and the share price could certainly pop in the short-term with positive phase III efficacy data for Libigel before the end of 2011. Long-term I don't think the commercial prospects for Libigel are good but I do have a green thumb on Biosante with the expectation of positive data. So my red thumb on Antares is somewhat contradictory in that respect. I see the upward momentum this week being somewhat excessive, and I'd like to escape the red thumb with a positive score before the Anturol PDUFA and Libigel data. If not, I might be in this for a while.