BidaskClub Upgrades Athenex (ATNX) to “Hold”

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BidaskClub upgraded shares of Athenex (NASDAQ:ATNX) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other analysts have also recently issued reports on ATNX. Zacks Investment Research raised Athenex from a sell rating to a hold rating in a research note on Tuesday, October 16th. LADENBURG THALM/SH SH assumed coverage on Athenex in a research note on Thursday, October 25th. They issued a buy rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. raised Athenex from a neutral rating to an overweight rating and cut their target price for the stock from $24.00 to $15.00 in a research note on Thursday, November 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $22.50.

NASDAQ ATNX opened at $12.05 on Tuesday. The company has a current ratio of 4.46, a quick ratio of 3.86 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $791.35 million, a P/E ratio of -5.19 and a beta of 0.13. Athenex has a 1 year low of $9.83 and a 1 year high of $20.90.

Athenex (NASDAQ:ATNX) last posted its earnings results on Wednesday, November 14th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.12. The company had revenue of $18.43 million for the quarter. Athenex had a negative return on equity of 71.94% and a negative net margin of 143.42%. As a group, analysts anticipate that Athenex will post -1.98 EPS for the current fiscal year.

In other news, CEO Johnson Yiu Nam Lau acquired 40,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were acquired at an average cost of $10.47 per share, with a total value of $418,800.00. Following the transaction, the chief executive officer now owns 2,887,422 shares in the company, valued at approximately $30,231,308.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Song-Yi Zhang sold 1,000,000 shares of Athenex stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $13.15, for a total transaction of $13,150,000.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $52,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 71,500 shares of company stock worth $762,815. Insiders own 29.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of Athenex by 363.2% during the second quarter. Legal & General Group Plc now owns 6,930 shares of the company’s stock valued at $129,000 after purchasing an additional 5,434 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Athenex during the third quarter valued at approximately $146,000. Prudential Financial Inc. purchased a new position in shares of Athenex during the fourth quarter valued at approximately $147,000. KCS Wealth Advisory lifted its holdings in shares of Athenex by 8.9% during the fourth quarter. KCS Wealth Advisory now owns 12,182 shares of the company’s stock valued at $155,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Man Group plc purchased a new position in shares of Athenex during the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 25.05% of the company’s stock.

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. 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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