BidaskClub Downgrades Athenex (NASDAQ:ATNX) to Strong Sell

Athenex (NASDAQ:ATNX) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday, BidAskClub reports.

A number of other brokerages have also commented on ATNX. Zacks Investment Research lowered shares of Athenex from a “hold” rating to a “sell” rating in a report on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Athenex in a research report on Tuesday, June 25th. SunTrust Banks boosted their target price on shares of Athenex to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Athenex from a “hold” rating to a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Athenex currently has a consensus rating of “Buy” and a consensus price target of $23.83.

Shares of ATNX stock opened at $10.93 on Thursday. Athenex has a 12 month low of $9.38 and a 12 month high of $21.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.62 and a quick ratio of 2.33. The firm has a market capitalization of $872.49 million, a P/E ratio of -7.59 and a beta of -0.21. The company’s fifty day moving average price is $13.62 and its two-hundred day moving average price is $14.83.

Athenex (NASDAQ:ATNX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.44) EPS for the quarter, hitting analysts’ consensus estimates of ($0.44). Athenex had a negative net margin of 161.17% and a negative return on equity of 85.39%. The firm had revenue of $22.20 million for the quarter, compared to analyst estimates of $18.15 million. On average, sell-side analysts anticipate that Athenex will post -1.96 EPS for the current year.

In related news, CEO Johnson Yiu Nam Lau bought 3,000 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $12.85 per share, with a total value of $38,550.00. Following the transaction, the chief executive officer now owns 3,049,959 shares of the company’s stock, valued at $39,191,973.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Perceptive Advisors Llc bought 13,584 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $14.05 per share, with a total value of $190,855.20. The disclosure for this purchase can be found here. Insiders bought a total of 912,065 shares of company stock valued at $13,335,741 in the last three months. Insiders own 18.80% of the company’s stock.

Several large investors have recently made changes to their positions in ATNX. DekaBank Deutsche Girozentrale grew its position in shares of Athenex by 21.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 22,900 shares of the company’s stock valued at $366,000 after buying an additional 4,100 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Athenex during the 1st quarter valued at about $1,054,000. Lindbrook Capital LLC bought a new stake in shares of Athenex during the 2nd quarter valued at about $79,000. KCS Wealth Advisory grew its position in shares of Athenex by 69.0% during the 2nd quarter. KCS Wealth Advisory now owns 20,582 shares of the company’s stock valued at $408,000 after buying an additional 8,400 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Athenex by 121.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,756 shares of the company’s stock valued at $74,000 after buying an additional 2,063 shares during the last quarter. 48.31% of the stock is owned by institutional investors and hedge funds.

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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