Athenex (ATNX) Stock Rating Upgraded by Zacks Investment Research

Athenex (NASDAQ:ATNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, 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. “

Other equities research analysts have also issued reports about the company. BidaskClub raised Athenex from a “sell” rating to a “hold” rating in a research report on Tuesday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Athenex in a research report on Tuesday, March 12th. SunTrust Banks began coverage on Athenex in a research report on Friday, March 29th. They set a “buy” rating and a $20.00 target price on the stock. Oppenheimer began coverage on Athenex in a research report on Thursday, May 2nd. They set an “outperform” rating and a $20.00 target price on the stock. Finally, CIBC began coverage on Athenex in a research report on Thursday, May 2nd. They set an “outperform” rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Athenex presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Shares of Athenex stock traded up $0.16 during trading on Wednesday, hitting $13.92. The stock had a trading volume of 617,447 shares, compared to its average volume of 329,381. The company has a quick ratio of 1.85, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $938.92 million, a price-to-earnings ratio of -9.67 and a beta of 0.03. Athenex has a fifty-two week low of $9.38 and a fifty-two week high of $20.90.

Athenex (NASDAQ:ATNX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.53) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.08). The firm had revenue of $25.31 million during 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%. Analysts anticipate that Athenex will post -1.77 earnings per share for the current fiscal year.

In related news, Director Song-Yi Zhang sold 32,240 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $11.85, for a total transaction of $382,044.00. Following the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $47,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Johnson Yiu Nam Lau purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,917,422 shares of the company’s stock, valued at approximately $34,367,231.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 157,500 shares of company stock worth $1,967,090 and have sold 132,240 shares worth $1,559,044. 18.80% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Private Advisor Group LLC raised its position in Athenex by 6.2% during the fourth quarter. Private Advisor Group LLC now owns 17,091 shares of the company’s stock valued at $217,000 after buying an additional 991 shares during the period. Squarepoint Ops LLC raised its position in Athenex by 2.2% during the fourth quarter. Squarepoint Ops LLC now owns 69,720 shares of the company’s stock valued at $885,000 after buying an additional 1,494 shares during the period. Swiss National Bank raised its position in Athenex by 3.9% during the first quarter. Swiss National Bank now owns 61,000 shares of the company’s stock valued at $747,000 after buying an additional 2,300 shares during the period. The Manufacturers Life Insurance Company raised its position in Athenex by 9.1% during the first quarter. The Manufacturers Life Insurance Company now owns 30,204 shares of the company’s stock valued at $370,000 after buying an additional 2,517 shares during the period. Finally, Teachers Advisors LLC raised its position in Athenex by 4.5% during the third quarter. Teachers Advisors LLC now owns 83,771 shares of the company’s stock valued at $1,302,000 after buying an additional 3,585 shares during the period. 31.85% of the stock is currently 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 in North America and Asia. It operates in three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform.

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