Athenex (ATNX) Cut to “Hold” at Zacks Investment Research

Athenex (NASDAQ:ATNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other equities analysts have also commented on ATNX. BidaskClub lowered Athenex from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. ValuEngine upgraded Athenex from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Needham & Company LLC initiated coverage on Athenex in a research note on Tuesday, March 6th. They issued a “buy” rating and a $30.00 target price for the company. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $26.86.

Athenex stock opened at $16.02 on Wednesday. The firm has a market capitalization of $1.02 billion and a P/E ratio of -6.91. Athenex has a 52 week low of $11.21 and a 52 week high of $20.79.

Athenex (NASDAQ:ATNX) last released its earnings results on Monday, May 14th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). The business had revenue of $37.84 million during the quarter. Athenex had a negative net margin of 136.72% and a negative return on equity of 75.45%. equities analysts predict that Athenex will post -1.4 EPS for the current fiscal year.

In other news, insider Jeffrey Yordon purchased 5,000 shares of the company’s stock in a transaction on Monday, March 26th. The stock was bought at an average cost of $14.69 per share, for a total transaction of $73,450.00. Following the completion of the purchase, the insider now directly owns 188,709 shares of the company’s stock, valued at approximately $2,772,135.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rudolf Kwan purchased 2,000 shares of the company’s stock in a transaction on Monday, March 26th. The shares were purchased at an average price of $14.65 per share, with a total value of $29,300.00. Following the completion of the purchase, the executive vice president now directly owns 82,224 shares of the company’s stock, valued at $1,204,581.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 29,500 shares of company stock valued at $433,850 and have sold 186,774 shares valued at $3,167,174.

Large investors have recently made changes to their positions in the business. Barclays PLC increased its stake in Athenex by 426.5% during the first quarter. Barclays PLC now owns 5,913 shares of the company’s stock worth $100,000 after acquiring an additional 4,790 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Athenex during the fourth quarter worth about $161,000. KCS Wealth Advisory acquired a new stake in Athenex during the first quarter worth about $179,000. California State Teachers Retirement System acquired a new stake in Athenex during the third quarter worth about $198,000. Finally, Jane Street Group LLC acquired a new stake in Athenex during the first quarter worth about $208,000. Institutional investors own 16.63% 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. 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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