Avenue Therapeutics Inc (NASDAQ:ATXI) Receives Average Recommendation of “Strong Buy” from Brokerages

Avenue Therapeutics Inc (NASDAQ:ATXI) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price objective of $13.67 for the company and are forecasting that the company will post ($0.32) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Avenue Therapeutics an industry rank of 77 out of 256 based on the ratings given to related companies.

ATXI has been the topic of a number of analyst reports. ValuEngine raised Avenue Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Avenue Therapeutics in a research report on Tuesday, May 14th.

In related news, Director Neil Herskowitz purchased 5,000 shares of Avenue Therapeutics stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of $5.86 per share, with a total value of $29,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Joseph Walter Vazzano sold 4,688 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.59, for a total value of $26,205.92. Following the completion of the sale, the chief financial officer now directly owns 59,038 shares in the company, valued at approximately $330,022.42. The disclosure for this sale can be found here. 5.00% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. National Asset Management Inc. raised its position in Avenue Therapeutics by 9.3% in the 2nd quarter. National Asset Management Inc. now owns 64,750 shares of the company’s stock valued at $408,000 after purchasing an additional 5,500 shares in the last quarter. Northern Trust Corp purchased a new position in shares of Avenue Therapeutics in the 4th quarter valued at about $79,000. BlackRock Inc. increased its holdings in shares of Avenue Therapeutics by 135.7% in the 2nd quarter. BlackRock Inc. now owns 39,933 shares of the company’s stock valued at $251,000 after acquiring an additional 22,994 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of Avenue Therapeutics in the 1st quarter valued at about $144,000. 7.17% of the stock is currently owned by institutional investors.

ATXI traded down $0.08 during mid-day trading on Friday, hitting $6.20. 28,560 shares of the stock were exchanged, compared to its average volume of 44,915. The firm’s fifty day moving average is $6.02 and its two-hundred day moving average is $5.49. Avenue Therapeutics has a 1-year low of $2.08 and a 1-year high of $7.98. The company has a market cap of $100.35 million, a PE ratio of -2.95 and a beta of -0.41.

Avenue Therapeutics (NASDAQ:ATXI) last posted its earnings results on Wednesday, August 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.05. Sell-side analysts anticipate that Avenue Therapeutics will post -1.79 EPS for the current year.

Avenue Therapeutics Company Profile

Avenue Therapeutics, Inc, a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain.

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