Athenex (ATNX) Lifted to Hold 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. “

A number of other research firms have also weighed in on ATNX. BidaskClub upgraded shares of Athenex from a hold rating to a buy rating in a research note on Friday, July 6th. ValuEngine lowered shares of Athenex from a buy rating to a hold rating in a research note on Wednesday, June 27th. One investment 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. Athenex presently has a consensus rating of Hold and an average price target of $22.75.

Shares of ATNX stock traded down $0.08 during trading hours on Tuesday, reaching $13.44. 4,384 shares of the stock were exchanged, compared to its average volume of 235,998. Athenex has a 12-month low of $13.15 and a 12-month high of $20.90. The firm has a market capitalization 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 Zacks’ 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 firm had revenue of $11.57 million for the quarter. As a group, sell-side analysts forecast that Athenex will post -2 earnings per share for the current fiscal year.

In related news, Director Song-Yi Zhang sold 43,845 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $16.53, for a total value of $724,757.85. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $66,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jinn Wu purchased 12,500 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was acquired at an average cost of $13.47 per share, with a total value of $168,375.00. Following the completion of the acquisition, the director now directly owns 311,208 shares of the company’s stock, valued at $4,191,971.76. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 27,000 shares of company stock valued at $405,120 and sold 344,317 shares valued at $5,859,972. Corporate insiders own 29.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings 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 boosted its holdings 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. Schwab Charles Investment Management Inc. boosted its holdings in Athenex by 66.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 210,889 shares of the company’s stock valued at $3,936,000 after purchasing an additional 84,566 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Athenex by 177.9% in the second quarter. Bank of New York Mellon Corp now owns 163,893 shares of the company’s stock valued at $3,058,000 after purchasing an additional 104,918 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in Athenex by 78.3% in the third quarter. Jaffetilchin Investment Partners LLC now owns 163,824 shares of the company’s stock valued at $2,546,000 after purchasing an additional 71,922 shares in the last quarter. 19.83% of the stock is owned by hedge funds and other institutional investors.

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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