Athenex (NASDAQ:ATNX) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Athenex (NASDAQ:ATNX) from a hold rating to a sell rating in a research note released 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 brokerages have also recently issued reports on ATNX. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, July 4th. Oppenheimer decreased their price objective on shares of Littelfuse from $215.00 to $210.00 and set an outperform rating for the company in a report on Thursday, May 2nd. CIBC decreased their price objective on shares of Rocky Mountain Dealerships from C$10.50 to C$10.00 in a report on Thursday, May 2nd. SunTrust Banks boosted their price objective on shares of Accenture to $180.00 and gave the company a hold rating in a report on Friday, March 29th. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated an outperform rating on shares of in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $22.17.



Shares of NASDAQ ATNX opened at $20.04 on Tuesday. The firm has a market capitalization of $1.41 billion, a PE ratio of -13.92 and a beta of -0.29. The firm’s 50 day moving average price is $17.13. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 2.22. Athenex has a 52-week low of $9.38 and a 52-week high of $21.11.

Athenex (NASDAQ:ATNX) last issued its quarterly earnings data 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). The firm had revenue of $25.31 million for the quarter, compared to analyst estimates of $19.55 million. Athenex had a negative net margin of 189.86% and a negative return on equity of 96.55%. On average, analysts forecast that Athenex will post -1.73 EPS for the current year.

In other Athenex news, Director Jordan Kanfer acquired 2,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $15.01 per share, with a total value of $37,525.00. Following the completion of the transaction, the director now directly owns 4,184 shares in the company, valued at approximately $62,801.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie A. Davis acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $180,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $180,000. The disclosure for this purchase can be found here. Insiders bought 318,210 shares of company stock valued at $5,111,581 in the last quarter. Corporate insiders own 18.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC grew its stake in shares of Athenex by 77.6% in the fourth quarter. Perceptive Advisors LLC now owns 5,096,022 shares of the company’s stock valued at $32,550,000 after acquiring an additional 2,226,494 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Athenex by 0.9% in the fourth quarter. BlackRock Inc. now owns 3,616,333 shares of the company’s stock worth $45,892,000 after acquiring an additional 33,755 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Athenex by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 489,666 shares of the company’s stock worth $6,213,000 after acquiring an additional 35,061 shares during the last quarter. Diag Capital Management LP bought a new position in shares of Athenex in the fourth quarter worth about $5,445,000. Finally, Emory University bought a new position in shares of Athenex in the first quarter worth about $2,312,000. 31.21% of the stock is currently owned by institutional investors and hedge funds.

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 in North America and Asia. It operates in three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform.

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