FY2023 Earnings Estimate for Avenue Therapeutics Inc Issued By Oppenheimer (NASDAQ:ATXI)

Avenue Therapeutics Inc (NASDAQ:ATXI) – Investment analysts at Oppenheimer lifted their FY2023 EPS estimates for Avenue Therapeutics in a research note issued on Monday, November 11th. Oppenheimer analyst L. Gershell now expects that the company will post earnings of $1.43 per share for the year, up from their previous forecast of $1.42.

Avenue Therapeutics (NASDAQ:ATXI) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.18.

Separately, ValuEngine lowered Avenue Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd.

Shares of Avenue Therapeutics stock traded down $0.20 during trading on Tuesday, hitting $5.67. 10,800 shares of the stock traded hands, compared to its average volume of 22,364. The firm has a market cap of $97.21 million, a P/E ratio of -2.70 and a beta of -0.46. Avenue Therapeutics has a 52-week low of $4.13 and a 52-week high of $7.98. The stock’s fifty day simple moving average is $5.66 and its 200 day simple moving average is $5.70.

An institutional investor recently raised its position in Avenue Therapeutics stock. BlackRock Inc. raised its stake in Avenue Therapeutics Inc (NASDAQ:ATXI) by 135.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,933 shares of the company’s stock after purchasing an additional 22,994 shares during the period. BlackRock Inc. owned 0.24% of Avenue Therapeutics worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 8.23% of the stock is owned by institutional investors.

In other news, Director Elizabeth Garrett Ingram purchased 16,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $6.27 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now owns 16,000 shares in the company, valued at approximately $100,320. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.00% of the company’s stock.

Avenue Therapeutics Company Profile

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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