Analysts Anticipate Athenex Inc (NASDAQ:ATNX) Will Post Quarterly Sales of $18.15 Million

Wall Street analysts expect Athenex Inc (NASDAQ:ATNX) to post $18.15 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Athenex’s earnings, with the highest sales estimate coming in at $21.20 million and the lowest estimate coming in at $15.10 million. Athenex reported sales of $11.57 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, August 13th.

On average, analysts expect that Athenex will report full year sales of $79.83 million for the current year, with estimates ranging from $70.00 million to $90.60 million. For the next financial year, analysts forecast that the company will post sales of $99.43 million, with estimates ranging from $73.50 million to $138.30 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Athenex.

Athenex (NASDAQ:ATNX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ 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 company had revenue of $25.31 million during the quarter, compared to the consensus estimate of $19.55 million.

A number of brokerages recently commented on ATNX. CIBC decreased their price target on Rocky Mountain Dealerships from C$10.50 to C$10.00 in a research report on Thursday, May 2nd. BidaskClub cut Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday. SunTrust Banks lifted 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. Royal Bank of Canada reiterated an “outperform” rating on shares of in a research report on Tuesday, June 25th. Finally, Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.17.

Shares of NASDAQ ATNX traded down $0.43 during mid-day trading on Monday, reaching $19.06. The company had a trading volume of 601,134 shares, compared to its average volume of 690,459. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.85 and a current ratio of 2.22. Athenex has a one year low of $9.38 and a one year high of $21.11. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -13.24 and a beta of -0.29. The company has a 50-day moving average price of $18.04.

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

Several hedge funds have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Athenex by 51.8% in the 4th quarter. Rhumbline Advisers now owns 56,505 shares of the company’s stock worth $717,000 after purchasing an additional 19,272 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Athenex in the 4th quarter worth approximately $147,000. BlackRock Inc. grew its stake in shares of Athenex by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,616,333 shares of the company’s stock worth $45,892,000 after purchasing an additional 33,755 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Athenex by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 168,870 shares of the company’s stock worth $2,143,000 after purchasing an additional 3,908 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Athenex by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 489,666 shares of the company’s stock worth $6,213,000 after purchasing an additional 35,061 shares during the last quarter. 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.

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