Athenex (NASDAQ:ATNX) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Athenex (NASDAQ:ATNX) from a hold rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the company. CIBC lowered their price target on Rocky Mountain Dealerships from C$10.50 to C$10.00 in a report on Thursday, May 2nd. Oppenheimer lowered their price target on Littelfuse from $215.00 to $210.00 and set an outperform rating on the stock in a report on Thursday, May 2nd. Zacks Investment Research upgraded DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. Royal Bank of Canada restated an outperform rating on shares of in a report on Tuesday, June 25th. Finally, SunTrust Banks upped their price target on Accenture to $180.00 and gave the stock a hold rating in a report on Friday, March 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $22.17.

NASDAQ ATNX opened at $19.98 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 2.22. The stock’s 50 day simple moving average is $17.25. Athenex has a 12-month low of $9.38 and a 12-month high of $21.11.

Athenex (NASDAQ:ATNX) last released its earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.08). Athenex had a negative return on equity of 96.55% and a negative net margin of 189.86%. The business had revenue of $25.31 million for the quarter, compared to analyst estimates of $19.55 million. As a group, equities research analysts forecast that Athenex will post -1.73 EPS for the current year.

In related news, Director Stephanie A. Davis bought 10,000 shares of Athenex stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $18.00 per share, with a total value of $180,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $180,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences Maste Perceptive bought 130,000 shares of Athenex stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $2,332,200.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 318,210 shares of company stock worth $5,111,581. Insiders own 18.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC lifted 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. BlackRock Inc. lifted its stake in Athenex by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,616,333 shares of the company’s stock valued at $45,892,000 after buying an additional 33,755 shares in the last quarter. Geode Capital Management LLC lifted its stake in Athenex by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 489,666 shares of the company’s stock valued at $6,213,000 after buying an additional 35,061 shares in the last quarter. Diag Capital Management LP purchased a new stake in Athenex in the 4th quarter valued at approximately $5,445,000. Finally, Emory University purchased a new stake in Athenex in the 1st quarter valued at approximately $2,312,000. 31.21% of the stock is currently owned by hedge funds and other institutional investors.

About Athenex

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.

Read More: Return on Investment (ROI)

Analyst Recommendations for Athenex (NASDAQ:ATNX)

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