Athenex (ATNX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Athenex (NASDAQ:ATNX) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

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 analysts also recently issued reports on ATNX. BidaskClub downgraded Athenex from a sell rating to a strong sell rating in a report on Thursday, April 18th. SunTrust Banks began coverage on Athenex in a report on Friday, March 29th. They issued a buy rating and a $20.00 price target for the company. Oppenheimer began coverage on Athenex in a report on Thursday, May 2nd. They issued an outperform rating and a $20.00 price target for the company. Royal Bank of Canada reissued an outperform rating on shares of Athenex in a report on Tuesday, March 12th. Finally, CIBC began coverage on Athenex in a report on Thursday, May 2nd. They issued an outperform rating and a $20.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $20.00.



Shares of NASDAQ:ATNX opened at $14.18 on Tuesday. Athenex has a 12-month low of $9.38 and a 12-month high of $20.90. The company has a market capitalization of $934.23 million, a price-to-earnings ratio of -9.85 and a beta of 0.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 2.75.

Athenex (NASDAQ:ATNX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.08). Athenex had a negative net margin of 189.86% and a negative return on equity of 96.55%. The company had revenue of $25.31 million during the quarter, compared to analyst estimates of $19.55 million. On average, sell-side analysts anticipate that Athenex will post -1.77 EPS for the current year.

In other Athenex news, CEO Johnson Yiu Nam Lau acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average cost of $12.40 per share, for a total transaction of $124,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,986,385 shares of the company’s stock, valued at $37,031,174. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Perceptive Advisors Llc acquired 100,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $12.71 per share, with a total value of $1,271,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 157,500 shares of company stock valued at $1,967,090 and sold 132,240 shares valued at $1,559,044. 18.80% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC increased its position in shares of Athenex by 77.6% during the fourth quarter. Perceptive Advisors LLC now owns 5,096,022 shares of the company’s stock worth $32,550,000 after purchasing an additional 2,226,494 shares in the last quarter. BlackRock Inc. increased its position in shares of Athenex by 0.9% during the fourth quarter. BlackRock Inc. now owns 3,616,333 shares of the company’s stock worth $45,892,000 after purchasing an additional 33,755 shares in the last quarter. Vanguard Group Inc increased its position in shares of Athenex by 8.3% during the third quarter. Vanguard Group Inc now owns 1,878,063 shares of the company’s stock worth $29,185,000 after purchasing an additional 144,410 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Athenex by 8.3% during the third quarter. Vanguard Group Inc. now owns 1,878,063 shares of the company’s stock worth $29,185,000 after purchasing an additional 144,410 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Athenex by 6.5% during the first quarter. Hsbc Holdings PLC now owns 979,553 shares of the company’s stock worth $11,999,000 after purchasing an additional 59,917 shares in the last quarter. Institutional investors and hedge funds own 31.50% 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 in North America and Asia. It operates in three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform.

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