QP alerted $PETX Stock | Shares Surge On First FDA
Post# of 22757
Posted On: 03/21/2016 10:50:47 PM
QP alerted $PETX Stock | Shares Surge On First FDA Approval (scroll down)
By Sean V -
March 21, 2016
Aratana Therapeutics Inc. (NASDAQ: PETX)
Aratana Therapeutics News & Technicals
On Monday during normal trading hours, shares of Aratana Therapeutics were halted pending news that they had been granted their first FDA approval for Galliprant which controls the pain and inflammation with Osteoarthritis in dogs. “Galliprant is a prostaglandin E2 (PGE2) EP4 receptor antagonist (PRA), a non-cyclooxygenase inhibiting, non-steroidal and anti-inflammatory drug. Galliprant blocks PGE2-elicited pain and inflammation.” (PRNewsWire) This is huge news for the company and should spark a lot of interest in their stock going forward. Currently analysts have an average price target of $11.83.
Shares surged to intraday highs of $6.17 where it ran in to daily resistance and came back in to close the day at $5.19. At the highs, shares were up nearly 37% from Fridays close at $4.51. Looking back at the daily chart you can see that shares have been under heavy selling pressure since September of 2015 when shares sank nearly 33%. Since then, shares have continued lower but look to have found a bottom at the $3 level where its been consolidating the past couple months. Shares broke out of the $5 resistance level and will now have to get past the $6 level if it wants to make it back to the 200-day moving average currently sitting at $9.79. Support should be met at the $5 and $4 levels and over the next couple of days we should some extra activity in this stock as news circulates. There was over 2.8 million shares traded today which is well above the normal trading range. Keep an eye on this stock as there may be some more opportunities to take advantage of the extra volatility.
CEO Comments
“As the first approved product in the new piprant class, Galliprant offers veterinarians a needed therapeutic option for the millions of dogs treated each year for osteoarthritis,” explains Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. “Clinical studies have shown Galliprant offers proven efficacy when compared to placebo and is well-tolerated in dogs.”
PETX Profile
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative pharmaceutical products for dogs and cats. Aratana believes that it can leverage the investment in the human pharmaceutical industry to bring therapeutics to pets in a capital and time efficient manner. The Company has multiple products approved by the Food and Drug Administration’s Center for Veterinary Medicine or licensed by the United States Department of Agriculture. The Company’s pipeline includes therapeutic candidates targeting pain, inappetence, cancer, viral diseases, allergy and other serious, unmet or underserved medical needs. Aratana believes providing innovative options to veterinarians and pet owners will help manage pets’ medical needs safely and effectively, result in longer and improved quality of life for pets. For more information, please visit www.aratana.com.
By Sean V -
March 21, 2016
Aratana Therapeutics Inc. (NASDAQ: PETX)
Aratana Therapeutics News & Technicals
On Monday during normal trading hours, shares of Aratana Therapeutics were halted pending news that they had been granted their first FDA approval for Galliprant which controls the pain and inflammation with Osteoarthritis in dogs. “Galliprant is a prostaglandin E2 (PGE2) EP4 receptor antagonist (PRA), a non-cyclooxygenase inhibiting, non-steroidal and anti-inflammatory drug. Galliprant blocks PGE2-elicited pain and inflammation.” (PRNewsWire) This is huge news for the company and should spark a lot of interest in their stock going forward. Currently analysts have an average price target of $11.83.
Shares surged to intraday highs of $6.17 where it ran in to daily resistance and came back in to close the day at $5.19. At the highs, shares were up nearly 37% from Fridays close at $4.51. Looking back at the daily chart you can see that shares have been under heavy selling pressure since September of 2015 when shares sank nearly 33%. Since then, shares have continued lower but look to have found a bottom at the $3 level where its been consolidating the past couple months. Shares broke out of the $5 resistance level and will now have to get past the $6 level if it wants to make it back to the 200-day moving average currently sitting at $9.79. Support should be met at the $5 and $4 levels and over the next couple of days we should some extra activity in this stock as news circulates. There was over 2.8 million shares traded today which is well above the normal trading range. Keep an eye on this stock as there may be some more opportunities to take advantage of the extra volatility.
CEO Comments
“As the first approved product in the new piprant class, Galliprant offers veterinarians a needed therapeutic option for the millions of dogs treated each year for osteoarthritis,” explains Steven St. Peter, M.D., President and Chief Executive Officer of Aratana Therapeutics. “Clinical studies have shown Galliprant offers proven efficacy when compared to placebo and is well-tolerated in dogs.”
PETX Profile
Aratana Therapeutics is a pet therapeutics company focused on licensing, developing and commercializing innovative pharmaceutical products for dogs and cats. Aratana believes that it can leverage the investment in the human pharmaceutical industry to bring therapeutics to pets in a capital and time efficient manner. The Company has multiple products approved by the Food and Drug Administration’s Center for Veterinary Medicine or licensed by the United States Department of Agriculture. The Company’s pipeline includes therapeutic candidates targeting pain, inappetence, cancer, viral diseases, allergy and other serious, unmet or underserved medical needs. Aratana believes providing innovative options to veterinarians and pet owners will help manage pets’ medical needs safely and effectively, result in longer and improved quality of life for pets. For more information, please visit www.aratana.com.
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I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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