UPDATE: Piper Jaffray Initiates Coverage On Aratana Therapeutics Inc On Approaching Catalysts

In a report published Tuesday, Piper Jaffray analyst Kevin K. Ellich initiated coverage on Aratana Therapeutics Inc PETX with an Overweight rating and $17.00 price target. In the report, Piper Jaffray noted, “We are initiating coverage of Aratana Therapeutics with an Overweight rating and $17 PT. PETX is the leader in the emerging pet therapeutic industry with the deepest pipeline and a very experienced management team. While the recent equity offering removed an overhang on the stock, in our view, there are a number of upcoming catalysts that could push shares higher, including 1) USDA approval for its B-cell lymphoma monoclonal antibody product (AT-004), 2) positive top-line results for its pain and inflammation product (AT-001), and 3) a positive, limited rollout for its T-cell lymphoma product (AT-005) to a couple dozen animal hospitals.” Aratana Therapeutics Inc closed on Monday at $10.62.