Zacks: Avenue Therapeutics Inc (NASDAQ:ATXI) Given $13.67 Average Target Price by Analysts

Shares of Avenue Therapeutics Inc (NASDAQ:ATXI) have been assigned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus target price of $13.67 for the company and are expecting that the company will post ($0.32) earnings per share for the current quarter, according to Zacks. Zacks has also given Avenue Therapeutics an industry rank of 73 out of 256 based on the ratings given to related companies.

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Avenue Therapeutics in a research report on Tuesday, May 14th.

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

Several institutional investors have recently bought and sold shares of the company. National Asset Management Inc. boosted its holdings in shares of Avenue Therapeutics by 9.3% in the second 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 during the period. Northern Trust Corp bought a new stake in Avenue Therapeutics during the 4th quarter valued at $79,000. BlackRock Inc. lifted 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 worth $251,000 after buying an additional 22,994 shares during the period. Finally, Spark Investment Management LLC bought a new position in shares of Avenue Therapeutics during the 1st quarter worth $144,000. 8.23% of the stock is owned by hedge funds and other institutional investors.

Shares of Avenue Therapeutics stock traded up $0.07 during trading hours on Friday, hitting $6.32. The company’s stock had a trading volume of 14,693 shares, compared to its average volume of 12,029. The company has a market cap of $104.00 million, a PE ratio of -3.01 and a beta of -0.44. The business has a 50 day moving average price of $6.03 and a two-hundred day moving average price of $5.53. Avenue Therapeutics has a 12-month low of $2.08 and a 12-month high of $7.98.

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

About Avenue Therapeutics

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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