Athenex (NASDAQ:ATNX)'s stock had its "hold" rating reissued by Truist Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $6.00 price target on the stock, down from their previous price target of $29.00. Truist Securities' target price would indicate a potential upside of 30.72% from the stock's previous close.
A number of other equities analysts have also weighed in on ATNX. Royal Bank of Canada upped their target price on Athenex from $9.00 to $33.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 2nd. Laidlaw reduced their price objective on shares of Athenex from $38.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 1st. Zacks Investment Research cut Athenex from a "buy" rating to a "hold" rating in a research note on Wednesday, February 17th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 target price (down from $30.00) on shares of Athenex in a research note on Monday. Finally, Evercore ISI began coverage on shares of Athenex in a research note on Wednesday, February 10th. They set an "outperform" rating on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. The company presently has a consensus rating of "Hold" and an average target price of $14.67.
Shares of ATNX stock traded up $0.09 on Tuesday, hitting $4.59. 65,080 shares of the company's stock were exchanged, compared to its average volume of 2,941,402. Athenex has a 12 month low of $3.93 and a 12 month high of $15.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.87 and a quick ratio of 4.43. The company has a 50 day moving average of $11.70 and a 200 day moving average of $12.05. The stock has a market cap of $428.96 million, a P/E ratio of -3.13 and a beta of 0.92.
Athenex (NASDAQ:ATNX) last issued its quarterly earnings data on Sunday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.09). Athenex had a negative return on equity of 66.12% and a negative net margin of 75.45%. Sell-side analysts predict that Athenex will post -1.5 EPS for the current fiscal year.
In related news, insider William Wei Zuo sold 419,931 shares of the stock in a transaction dated Thursday, March 4th. The shares were sold at an average price of $4.52, for a total value of $1,898,088.12. Following the completion of the transaction, the insider now directly owns 142,883 shares in the company, valued at approximately $645,831.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.30% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC grew its stake in shares of Athenex by 17.3% in the 3rd quarter. Perceptive Advisors LLC now owns 13,532,467 shares of the company's stock worth $161,323,000 after buying an additional 2,000,000 shares during the last quarter. BlackRock Inc. boosted its holdings in Athenex by 17.6% in the fourth quarter. BlackRock Inc. now owns 6,120,240 shares of the company's stock worth $67,690,000 after acquiring an additional 915,103 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Athenex during the third quarter valued at $13,915,000. Schonfeld Strategic Advisors LLC boosted its stake in Athenex by 345.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 873,656 shares of the company's stock worth $10,571,000 after purchasing an additional 677,422 shares in the last quarter. Finally, Northern Trust Corp grew its position in Athenex by 10.9% during the 4th quarter. Northern Trust Corp now owns 814,757 shares of the company's stock valued at $9,012,000 after purchasing an additional 80,394 shares during the last quarter. 57.74% 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.
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