UPDATE: Jefferies Reiterates $5 PT and Buy Rating on Antares Pharma on In-Line 4Q Results

In a report published by Jefferies, analyst Corey Davis reiterated his Buy rating and $5 price target on Antares Pharma

. Jefferies reported that, “ATRS reported 4Q'12 REV/EPS of $5.5M/($0.04), ~in-line with our $5.6M/($0.04) and consensus of $5.4M/($0.03). ‘Product sales' of $1.4M was below our $2.5M due to lower hGH device shipments to partners, but that is expectedly volatile given inventory fluctuations. Stronger royalty sales of $1.7M vs. our $1.2M imply that the enduser partner pull-through demand is healthy.” Shares of Antares Pharma close that $3.45 on Wednesday.