BidaskClub Upgrades Athenex (ATNX) to “Sell”

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

A number of other equities analysts also recently commented on ATNX. ValuEngine raised Athenex from a hold rating to a buy rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded Athenex from a hold rating to a sell rating in a research report on Friday, August 17th. LADENBURG THALM/SH SH assumed coverage on Athenex in a research report on Thursday, October 25th. They set a buy rating and a $27.00 price objective for the company. Finally, JPMorgan Chase & Co. raised Athenex from a neutral rating to an overweight rating and lowered their price objective for the stock from $24.00 to $15.00 in a research report on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $22.00.

NASDAQ ATNX opened at $12.47 on Tuesday. The stock has a market capitalization of $798.04 million, a price-to-earnings ratio of -5.38 and a beta of 0.31. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.46 and a quick ratio of 3.86. Athenex has a 1-year low of $9.83 and a 1-year high of $20.90.

Athenex (NASDAQ:ATNX) last released its earnings results on Wednesday, November 14th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.12. The company had revenue of $18.43 million during the quarter. Athenex had a negative return on equity of 71.94% and a negative net margin of 143.42%. On average, sell-side analysts forecast that Athenex will post -1.98 earnings per share for the current fiscal year.

In related news, EVP Rudolf Kwan acquired 10,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was acquired at an average cost of $10.49 per share, with a total value of $104,900.00. Following the completion of the transaction, the executive vice president now owns 92,224 shares in the company, valued at approximately $967,429.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Johnson Yiu Nam Lau purchased 5,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $15.84 per share, with a total value of $79,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,825,422 shares of the company’s stock, valued at $44,754,684.48. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 93,500 shares of company stock valued at $1,081,935. Corporate insiders own 29.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Athenex by 3.2% in the third quarter. BlackRock Inc. now owns 3,582,578 shares of the company’s stock valued at $55,673,000 after purchasing an additional 110,332 shares in the last quarter. Perceptive Advisors LLC boosted its holdings in Athenex by 1,410.3% in the third quarter. Perceptive Advisors LLC now owns 2,869,528 shares of the company’s stock valued at $44,592,000 after purchasing an additional 2,679,528 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Athenex by 8.3% in the third quarter. Vanguard Group Inc. now owns 1,878,063 shares of the company’s stock valued at $29,185,000 after purchasing an additional 144,410 shares in the last quarter. Northern Trust Corp boosted its holdings in Athenex by 249.8% in the second quarter. Northern Trust Corp now owns 511,476 shares of the company’s stock valued at $9,545,000 after purchasing an additional 365,240 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Athenex by 85.5% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 222,378 shares of the company’s stock valued at $3,456,000 after purchasing an additional 102,524 shares in the last quarter. 20.93% of the stock is owned by hedge funds and other institutional investors.

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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