CIBC Begins Coverage on Athenex (ATNX)

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CIBC initiated coverage on shares of Athenex (NASDAQ:ATNX) in a research note issued to investors on Thursday, FirstToMarketsRatingsTable reports. The brokerage issued an outperform rating and a $20.00 price target on the stock.

Several other brokerages also recently commented on ATNX. BidaskClub downgraded shares of Athenex from a hold rating to a sell rating in a research note on Wednesday, April 3rd. SunTrust Banks began coverage on shares of Athenex in a report on Friday, March 29th. They issued a buy rating and a $20.00 price target on the stock. Oppenheimer began coverage on shares of Athenex in a report on Thursday. They issued an outperform rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada reiterated an outperform rating on shares of Athenex in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $20.00.

Shares of NASDAQ ATNX traded up $0.19 during mid-day trading on Thursday, hitting $10.12. The stock had a trading volume of 253,700 shares, compared to its average volume of 260,296. The company has a quick ratio of 2.75, a current ratio of 3.31 and a debt-to-equity ratio of 0.36. Athenex has a 1 year low of $9.38 and a 1 year high of $20.90. The company has a market cap of $673.24 million, a price-to-earnings ratio of -7.03 and a beta of 0.04.

Athenex (NASDAQ:ATNX) last issued its earnings results on Monday, March 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.21). Athenex had a negative return on equity of 66.23% and a negative net margin of 131.81%. The firm had revenue of $21.27 million during the quarter. Equities research analysts anticipate that Athenex will post -1.75 earnings per share for the current year.

In related news, CEO Johnson Yiu Nam Lau purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $11.78 per share, for a total transaction of $117,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,917,422 shares in the company, valued at approximately $34,367,231.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Song-Yi Zhang sold 32,240 shares of Athenex stock in a transaction on Monday, March 11th. The shares were sold at an average price of $11.85, for a total transaction of $382,044.00. Following the completion of the sale, the director now owns 4,000 shares in the company, valued at approximately $47,400. The disclosure for this sale can be found here. In the last quarter, insiders purchased 57,500 shares of company stock worth $696,090 and sold 132,240 shares worth $1,559,044. Insiders own 29.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ATNX. BNP Paribas Arbitrage SA boosted its holdings in 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 acquiring an additional 9,134 shares in the last quarter. Prudential Financial Inc. bought a new stake in Athenex in the fourth quarter valued at $147,000. KCS Wealth Advisory boosted its holdings in Athenex by 8.9% in the fourth quarter. KCS Wealth Advisory now owns 12,182 shares of the company’s stock valued at $155,000 after acquiring an additional 1,000 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Athenex in the first quarter valued at $158,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in 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 acquiring an additional 11,125 shares in the last quarter. Institutional investors and hedge funds own 31.51% of the company’s stock.

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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Analyst Recommendations for Athenex (NASDAQ:ATNX)

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