BidaskClub Downgrades Athenex (ATNX) to Strong Sell

BidaskClub lowered shares of Athenex (NASDAQ:ATNX) from a sell rating to a strong sell rating in a research report report published on Thursday, April 18th, BidAskClub reports.

ATNX has been the topic of several other research reports. Royal Bank of Canada reaffirmed an outperform rating on shares of Athenex in a research report on Tuesday, March 12th. SunTrust Banks started coverage on shares of Athenex in a research report on Friday, March 29th. They issued a buy rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $20.00.

Shares of ATNX traded up $1.25 during trading hours on Thursday, hitting $14.26. The stock had a trading volume of 790,096 shares, compared to its average volume of 311,879. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.31 and a quick ratio of 2.75. The company has a market cap of $872.40 million, a PE ratio of -9.90 and a beta of 0.03. Athenex has a 1-year low of $9.38 and a 1-year high of $20.90.

Athenex (NASDAQ:ATNX) last issued its earnings results on Thursday, May 9th. The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.08). Athenex had a negative net margin of 131.81% and a negative return on equity of 66.23%. The firm had revenue of $25.31 million during the quarter, compared to analyst estimates of $19.55 million. Analysts expect that Athenex will post -1.72 EPS for the current fiscal year.

In related news, CEO Johnson Yiu Nam Lau purchased 10,000 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the acquisition, the chief executive officer now owns 2,917,422 shares of the company’s stock, valued at approximately $34,367,231.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Perceptive Advisors Llc purchased 100,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $12.71 per share, for a total transaction of $1,271,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 157,500 shares of company stock worth $1,967,090 and have sold 132,240 shares worth $1,559,044. 18.80% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ATNX. Perceptive Advisors LLC grew its stake in Athenex by 77.6% in the 4th quarter. Perceptive Advisors LLC now owns 5,096,022 shares of the company’s stock valued at $32,550,000 after buying an additional 2,226,494 shares in the last quarter. Diag Capital Management LP purchased a new position in Athenex in the 4th quarter valued at approximately $5,445,000. Emory University purchased a new position in Athenex in the 1st quarter valued at approximately $2,312,000. Vanguard Group Inc grew its stake in Athenex by 8.3% in the 3rd quarter. Vanguard Group Inc now owns 1,878,063 shares of the company’s stock valued at $29,185,000 after buying an additional 144,410 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Athenex by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,878,063 shares of the company’s stock valued at $29,185,000 after buying an additional 144,410 shares in the last quarter. Institutional investors and hedge funds own 31.53% of the company’s stock.

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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Analyst Recommendations for Athenex (NASDAQ:ATNX)

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