UPDATE: Jefferies & Company Initiates Coverage on Antares Pharma with Buy Rating, $5 PT

In a report published Wednesday, Jefferies & Company initiated coverage on Antares Pharma ATRS with a Buy rating and $5.00 price target. Jefferies noted, “We are initiating on ATRS with a Buy and a 12-month $5 price target. ATRS is a needle auto-injector innovator transitioning from a device technology partner to an integrated commercial-stage drug company. The primary driver is a self-injected once-weekly form of methotrexate for RA (NDA filed 12/17/12) with better safety and efficacy potential. In the meantime, several already-partnered drugs should fund pre-launch preparations in '13.” Antares Pharma closed on Tuesday at $3.82.