Athenex (ATNX) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Athenex (NASDAQ:ATNX) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

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 research analysts have also recently weighed in on ATNX. ValuEngine cut Athenex from a buy rating to a hold rating in a research note on Wednesday, June 27th. BidaskClub cut Athenex from a buy rating to a hold rating in a research note on Thursday, June 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $22.75.

NASDAQ ATNX opened at $12.91 on Tuesday. Athenex has a fifty-two week low of $12.82 and a fifty-two week high of $20.90. The firm has a market cap of $941.28 million, a price-to-earnings ratio of -5.79 and a beta of -1.67.

Athenex (NASDAQ:ATNX) last released its earnings results on Tuesday, August 14th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.10). Athenex had a negative return on equity of 73.37% and a negative net margin of 122.29%. The business had revenue of $11.57 million for the quarter. On average, equities analysts anticipate that Athenex will post -2 EPS for the current fiscal year.

In other news, Director Song-Yi Zhang sold 43,845 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $16.53, for a total transaction of $724,757.85. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at $66,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jinn Wu purchased 5,000 shares of the stock in a transaction dated Monday, August 20th. The shares were bought at an average price of $17.20 per share, with a total value of $86,000.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $68,800. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 27,000 shares of company stock valued at $405,120 and have sold 344,317 shares valued at $5,859,972. 29.50% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in ATNX. Schwab Charles Investment Management Inc. increased its holdings in shares of Athenex by 303.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 126,323 shares of the company’s stock worth $2,149,000 after buying an additional 95,048 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Athenex by 95.1% during the first quarter. Northern Trust Corp now owns 146,236 shares of the company’s stock worth $2,487,000 after buying an additional 71,287 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Athenex by 54.8% during the first quarter. BlackRock Inc. now owns 1,683,185 shares of the company’s stock worth $28,631,000 after buying an additional 596,200 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Athenex by 879.5% during the first quarter. Citigroup Inc. now owns 26,270 shares of the company’s stock worth $447,000 after buying an additional 23,588 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Athenex during the first quarter worth $289,000. Institutional investors own 19.83% of the company’s stock.

About Athenex

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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