Athenex Inc (NASDAQ:ATNX) Expected to Announce Quarterly Sales of $12.05 Million

Equities analysts expect that Athenex Inc (NASDAQ:ATNX) will post $12.05 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Athenex’s earnings. The highest sales estimate is $12.10 million and the lowest is $12.00 million. Athenex reported sales of $21.27 million during the same quarter last year, which indicates a negative year-over-year growth rate of 43.3%. The firm is scheduled to issue its next earnings report on Monday, March 9th.

On average, analysts expect that Athenex will report full-year sales of $84.38 million for the current financial year, with estimates ranging from $78.00 million to $96.13 million. For the next fiscal year, analysts expect that the firm will report sales of $89.89 million, with estimates ranging from $69.50 million to $105.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Athenex.

Athenex (NASDAQ:ATNX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.01. Athenex had a negative net margin of 146.51% and a negative return on equity of 98.13%. The company had revenue of $19.36 million during the quarter, compared to the consensus estimate of $15.90 million.

A number of equities research analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Athenex in a research report on Friday, December 6th. They set a “buy” rating and a $28.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $31.00 price target on shares of Athenex in a report on Tuesday, November 19th. Zacks Investment Research upgraded shares of Athenex from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Monday. ValuEngine lowered shares of Athenex from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, BidaskClub lowered shares of Athenex from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.33.

In other Athenex news, major shareholder Life Sciences Maste Perceptive bought 606,302 shares of Athenex stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average price of $14.54 per share, for a total transaction of $8,815,631.08. Also, Director Manson Fok bought 50,000 shares of Athenex stock in a transaction that occurred on Thursday, November 7th. The shares were acquired at an average price of $11.67 per share, for a total transaction of $583,500.00. Following the acquisition, the director now directly owns 1,869,609 shares in the company, valued at approximately $21,818,337.03. The disclosure for this purchase can be found here. Insiders have purchased a total of 657,302 shares of company stock worth $9,412,381 in the last 90 days. Company insiders own 18.80% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted its holdings in shares of Athenex by 92.7% during the 2nd quarter. Perceptive Advisors LLC now owns 9,822,118 shares of the company’s stock valued at $187,636,000 after acquiring an additional 4,726,096 shares in the last quarter. BlackRock Inc. lifted its holdings in Athenex by 26.0% in the 2nd quarter. BlackRock Inc. now owns 4,508,787 shares of the company’s stock worth $89,275,000 after buying an additional 930,726 shares in the last quarter. Orbimed Advisors LLC lifted its holdings in Athenex by 793.1% in the 2nd quarter. Orbimed Advisors LLC now owns 3,840,130 shares of the company’s stock worth $76,035,000 after buying an additional 3,410,130 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Athenex by 33.9% in the 2nd quarter. Vanguard Group Inc. now owns 2,832,668 shares of the company’s stock worth $56,087,000 after buying an additional 717,109 shares in the last quarter. Finally, State Street Corp lifted its holdings in Athenex by 73.9% in the 3rd quarter. State Street Corp now owns 2,676,903 shares of the company’s stock worth $32,565,000 after buying an additional 1,137,517 shares in the last quarter. Institutional investors and hedge funds own 55.83% of the company’s stock.

Shares of ATNX stock traded down $0.05 during midday trading on Monday, reaching $15.37. 141,952 shares of the company traded hands, compared to its average volume of 728,758. The firm’s 50 day simple moving average is $15.45 and its two-hundred day simple moving average is $14.94. Athenex has a 1-year low of $8.82 and a 1-year high of $21.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.37 and a quick ratio of 2.06. The firm has a market cap of $1.20 billion, a PE ratio of -10.67 and a beta of 0.01.

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 in North America and Asia. It operates in three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform.

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