Athenex Inc (NASDAQ:ATNX) Receives $23.83 Average Target Price from Brokerages

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Athenex Inc (NASDAQ:ATNX) has earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $23.83.

A number of research firms recently commented on ATNX. ValuEngine raised Athenex from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Zacks Investment Research cut Athenex from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. BidaskClub cut Athenex from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Athenex in a report on Tuesday, June 25th. Finally, SunTrust Banks boosted their price target on Athenex to $30.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. They noted that the move was a valuation call.

In other news, CEO Johnson Yiu Nam Lau acquired 6,000 shares of Athenex stock in a transaction on Wednesday, October 16th. The shares were acquired at an average price of $10.16 per share, with a total value of $60,960.00. Following the purchase, the chief executive officer now directly owns 3,055,959 shares in the company, valued at approximately $31,048,543.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Perceptive Advisors Llc acquired 30,000 shares of Athenex stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $450,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 986,287 shares of company stock worth $14,099,406. 18.80% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in ATNX. First Trust Advisors LP bought a new stake in Athenex in the 1st quarter worth approximately $1,054,000. Lindbrook Capital LLC bought a new stake in Athenex in the 2nd quarter worth approximately $79,000. KCS Wealth Advisory increased its stake in Athenex by 69.0% in the 2nd quarter. KCS Wealth Advisory now owns 20,582 shares of the company’s stock worth $408,000 after acquiring an additional 8,400 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Athenex by 121.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,756 shares of the company’s stock worth $74,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Aperio Group LLC bought a new stake in Athenex in the 2nd quarter worth approximately $31,000. 48.31% of the stock is currently owned by institutional investors and hedge funds.

ATNX stock opened at $10.23 on Wednesday. Athenex has a twelve month low of $9.38 and a twelve month high of $21.11. The company has a quick ratio of 2.33, a current ratio of 2.62 and a debt-to-equity ratio of 0.34. The stock has a market cap of $834.57 million, a P/E ratio of -7.10 and a beta of -0.21. The business’s 50-day moving average price is $13.03 and its 200-day moving average price is $14.78.

Athenex (NASDAQ:ATNX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.44) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.44). Athenex had a negative return on equity of 85.39% and a negative net margin of 161.17%. The firm had revenue of $22.20 million for the quarter, compared to analysts’ expectations of $18.15 million. On average, equities research analysts expect that Athenex will post -1.96 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Athenex (NASDAQ:ATNX)

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