Athenex Inc (ATNX) Receives $24.00 Consensus PT from Analysts

Athenex Inc (NASDAQ:ATNX) has received a consensus recommendation of “Buy” from the six brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.00.

ATNX has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded shares of Athenex from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $24.00 to $15.00 in a report on Thursday, November 15th. LADENBURG THALM/SH SH initiated coverage on shares of Athenex in a report on Thursday, October 25th. They issued a “buy” rating and a $27.00 price objective on the stock. BidaskClub lowered shares of Athenex from a “hold” rating to a “sell” rating in a report on Saturday, December 8th. Finally, Zacks Investment Research upgraded shares of Athenex from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th.

In other news, CEO Johnson Yiu Nam Lau bought 40,000 shares of the stock in a transaction on Wednesday, November 14th. The stock was purchased at an average price of $10.47 per share, with a total value of $418,800.00. Following the completion of the purchase, the chief executive officer now owns 2,887,422 shares of the company’s stock, valued at $30,231,308.34. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Song-Yi Zhang sold 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the completion of the sale, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $52,600. The disclosure for this sale can be found here. Insiders purchased 71,500 shares of company stock worth $762,815 over the last 90 days. 29.50% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of ATNX. Perceptive Advisors LLC increased its stake in Athenex by 1,410.3% in the third quarter. Perceptive Advisors LLC now owns 2,869,528 shares of the company’s stock valued at $44,592,000 after purchasing an additional 2,679,528 shares in the last quarter. BlackRock Inc. increased its stake in Athenex by 106.3% in the second quarter. BlackRock Inc. now owns 3,472,246 shares of the company’s stock valued at $64,793,000 after purchasing an additional 1,789,061 shares in the last quarter. Northern Trust Corp increased its stake in Athenex by 249.8% in the second quarter. Northern Trust Corp now owns 511,476 shares of the company’s stock valued at $9,545,000 after purchasing an additional 365,240 shares in the last quarter. Northpointe Capital LLC bought a new stake in Athenex in the third quarter valued at approximately $2,540,000. Finally, Vanguard Group Inc increased its stake in Athenex by 8.3% in the third quarter. Vanguard Group Inc now owns 1,878,063 shares of the company’s stock valued at $29,185,000 after purchasing an additional 144,410 shares in the last quarter. 25.03% of the stock is owned by hedge funds and other institutional investors.

Shares of ATNX stock opened at $12.05 on Friday. Athenex has a 1 year low of $9.83 and a 1 year high of $20.90. The company has a market cap of $806.07 million, a PE ratio of -5.19 and a beta of 0.13. The company has a current ratio of 4.46, a quick ratio of 3.86 and a debt-to-equity ratio of 0.30.

Athenex (NASDAQ:ATNX) last announced its quarterly earnings data on Wednesday, November 14th. The company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.12. Athenex had a negative net margin of 143.42% and a negative return on equity of 71.94%. The business had revenue of $18.43 million for the quarter. Research analysts predict that Athenex will post -1.98 EPS for the current year.

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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