Brokerages Anticipate Avenue Therapeutics Inc (NASDAQ:ATXI) Will Announce Earnings of -$0.32 Per Share

Brokerages expect Avenue Therapeutics Inc (NASDAQ:ATXI) to post ($0.32) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Avenue Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at ($0.30). Avenue Therapeutics posted earnings per share of ($0.25) during the same quarter last year, which would indicate a negative year-over-year growth rate of 28%. The business is expected to issue its next quarterly earnings results on Wednesday, November 13th.

According to Zacks, analysts expect that Avenue Therapeutics will report full year earnings of ($1.79) per share for the current financial year, with EPS estimates ranging from ($1.83) to ($1.75). For the next fiscal year, analysts expect that the business will post earnings of ($0.96) per share, with EPS estimates ranging from ($1.15) to ($0.77). Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Avenue Therapeutics.

Avenue Therapeutics (NASDAQ:ATXI) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.05.

Separately, ValuEngine downgraded shares of Avenue Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

In related news, Director Elizabeth Garrett Ingram acquired 16,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $6.27 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now directly owns 16,000 shares in the company, valued at approximately $100,320. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Joseph Walter Vazzano sold 4,688 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $5.59, for a total transaction of $26,205.92. Following the transaction, the chief financial officer now owns 59,038 shares in the company, valued at approximately $330,022.42. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

A hedge fund recently raised its stake in Avenue Therapeutics stock. BlackRock Inc. increased its holdings in Avenue Therapeutics Inc (NASDAQ:ATXI) by 135.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,933 shares of the company’s stock after buying an additional 22,994 shares during the quarter. BlackRock Inc. owned about 0.24% of Avenue Therapeutics worth $251,000 at the end of the most recent reporting period. 8.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ATXI traded up $0.01 during mid-day trading on Thursday, hitting $5.59. 1,887 shares of the company traded hands, compared to its average volume of 14,902. Avenue Therapeutics has a 1-year low of $2.08 and a 1-year high of $7.98. The company has a market capitalization of $93.07 million, a PE ratio of -2.66 and a beta of -0.45. The business has a 50 day moving average of $6.03 and a 200 day moving average of $5.59.

About Avenue Therapeutics

Avenue Therapeutics, Inc, a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain.

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