Zacks Investment Research upgraded shares of Athenex (NASDAQ:ATNX) from a hold rating to a buy rating in a research note published on Friday, June 8th. Zacks Investment Research currently has $18.00 target price on the stock.
According to Zacks, “Athenex, Inc. is a clinical stage biopharmaceutical company. It engaged in the discovery and development of drugs for the treatment of cancer. The company’s platform including an Oncology Innovation Platform, a Commercial Platform and a Global Supply Chain Platform. It operates primarily in Buffalo and Clarence, New York, Cranford, New Jersey, Houston, Texas, Chicago, Illinois, Hong Kong and Taipei Taiwan. Athenex, Inc. is based in Buffalo, United States. “
Several other equities analysts have also issued reports on the company. BidaskClub lowered Athenex from a strong-buy rating to a buy rating in a research report on Thursday, April 19th. Needham & Company LLC assumed coverage on Athenex in a research report on Tuesday, March 6th. They issued a buy rating and a $30.00 price objective for the company. Finally, ValuEngine upgraded Athenex from a sell rating to a hold rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $26.71.
Shares of Athenex opened at $19.05 on Friday, MarketBeat Ratings reports. Athenex has a 1 year low of $13.16 and a 1 year high of $20.79. The firm has a market capitalization of $1.18 billion and a PE ratio of -8.21.
Athenex (NASDAQ:ATNX) last issued its earnings results on Monday, May 14th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). Athenex had a negative net margin of 136.72% and a negative return on equity of 75.45%. The firm had revenue of $37.84 million during the quarter. research analysts expect that Athenex will post -1.36 EPS for the current year.
In other Athenex news, EVP Rudolf Kwan purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The shares were acquired at an average price of $14.65 per share, for a total transaction of $29,300.00. Following the purchase, the executive vice president now owns 82,224 shares in the company, valued at $1,204,581.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Song-Yi Zhang sold 29,244 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $16.93, for a total value of $495,100.92. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $67,720. The disclosure for this sale can be found here. In the last quarter, insiders have bought 29,500 shares of company stock worth $433,850 and have sold 301,392 shares worth $5,041,671. Corporate insiders own 29.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of Athenex by 426.5% during the 1st quarter. Barclays PLC now owns 5,913 shares of the company’s stock worth $100,000 after purchasing an additional 4,790 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Athenex in the fourth quarter valued at about $161,000. KCS Wealth Advisory acquired a new stake in Athenex in the first quarter valued at about $179,000. Jane Street Group LLC acquired a new stake in Athenex in the first quarter valued at about $208,000. Finally, A.R.T. Advisors LLC acquired a new stake in Athenex in the first quarter valued at about $289,000. 16.63% of the stock is currently owned by institutional investors.
Athenex Company Profile
Athenex, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of various therapies for the treatment of cancer and related conditions. The company's Orascovery product candidates include Oraxol, an oral dosage form, which is in Phase III trial for metastatic breast cancer, as well as various clinical studies in advanced malignances and gastric cancer; and Oratecan, an oral dosage form of irinotecan that is in a Phase I study for the treatment of metastatic colorectal cancer, glioblastoma, lung, ovarian, cervical, upper gastrointestinal, and pancreatic cancer.
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