Athenex (NASDAQ:ATNX) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Athenex (NASDAQ:ATNX) from a hold rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Athenex, Inc. is a clinical stage biopharmaceutical company. It engaged in the discovery and development of drugs for the treatment of cancer. The company’s platform including an Oncology Innovation Platform, a Commercial Platform and a Global Supply Chain Platform. It operates primarily in Buffalo and Clarence, New York, Cranford, New Jersey, Houston, Texas, Chicago, Illinois, Hong Kong and Taipei Taiwan. Athenex, Inc. is based in Buffalo, United States. “

Several other research analysts have also issued reports on ATNX. SunTrust Banks upped their target price on Accenture to $180.00 and gave the company a hold rating in a research report on Friday, March 29th. They noted that the move was a valuation call. CIBC reduced their target price on Rocky Mountain Dealerships from C$10.50 to C$10.00 in a research report on Thursday, May 2nd. BidaskClub raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. Royal Bank of Canada reaffirmed an outperform rating on shares of in a research report on Tuesday, June 25th. Finally, Oppenheimer reduced their target price on Littelfuse from $215.00 to $210.00 and set an outperform rating on the stock in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. Athenex has a consensus rating of Buy and an average price target of $22.17.

Shares of NASDAQ:ATNX opened at $19.98 on Tuesday. The company’s 50-day simple moving average is $17.25. Athenex has a 1 year low of $9.38 and a 1 year high of $21.11. The company has a current ratio of 2.22, a quick ratio of 1.85 and a debt-to-equity ratio of 0.57.

Athenex (NASDAQ:ATNX) last announced 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 net margin of 189.86% and a negative return on equity of 96.55%. The business had revenue of $25.31 million for the quarter, compared to analyst estimates of $19.55 million. Research analysts expect that Athenex will post -1.73 EPS for the current fiscal year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 130,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $17.94 per share, with a total value of $2,332,200.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jordan Kanfer acquired 2,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $15.01 per share, for a total transaction of $37,525.00. Following the completion of the acquisition, the director now directly owns 4,184 shares of the company’s stock, valued at approximately $62,801.84. The disclosure for this purchase can be found here. Insiders bought 318,210 shares of company stock worth $5,111,581 over the last three months. Corporate insiders own 18.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in shares of Athenex by 913,400.0% in the first quarter. BNP Paribas Arbitrage SA now owns 9,135 shares of the company’s stock valued at $112,000 after purchasing an additional 9,134 shares during the period. Prudential Financial Inc. acquired a new position in shares of Athenex in the fourth quarter valued at about $147,000. Virginia Retirement Systems ET AL acquired a new position in shares of Athenex in the first quarter valued at about $158,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Athenex by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,245 shares of the company’s stock valued at $181,000 after purchasing an additional 11,125 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of Athenex by 6.2% in the fourth quarter. Private Advisor Group LLC now owns 17,091 shares of the company’s stock valued at $217,000 after purchasing an additional 991 shares during the period. 31.21% of the stock is currently owned by institutional investors and hedge funds.

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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