Zacks Investment Research upgraded shares of Athenex (NASDAQ:ATNX) from a sell rating to a hold rating in a research report report published on Wednesday morning, 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. “

A number of other analysts also recently issued reports on ATNX. BidaskClub downgraded shares of Athenex from a sell rating to a strong sell rating in a report on Thursday, April 18th. SunTrust Banks assumed coverage on shares of Athenex in a report on Friday, March 29th. They set a buy rating and a $20.00 price target for the company. Oppenheimer assumed coverage on shares of Athenex in a report on Thursday, May 2nd. They set an outperform rating and a $20.00 price target for the company. Royal Bank of Canada restated an outperform rating on shares of Athenex in a report on Tuesday, March 12th. Finally, CIBC assumed coverage on shares of Athenex in a report on Thursday, May 2nd. They set an outperform rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Athenex currently has an average rating of Buy and an average price target of $20.00.

ATNX opened at $14.45 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. Athenex has a 1-year low of $9.38 and a 1-year high of $20.90.

Athenex (NASDAQ:ATNX) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.08). The firm had revenue of $25.31 million for the quarter, compared to analyst estimates of $19.55 million. Athenex had a negative return on equity of 96.55% and a negative net margin of 189.86%. Analysts predict that Athenex will post -1.77 earnings per share for the current fiscal year.

In related news, major shareholder Perceptive Advisors Llc bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $12.71 per share, for a total transaction of $1,271,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Johnson Yiu Nam Lau bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average price of $11.78 per share, with a total value of $117,800.00. Following the acquisition, the chief executive officer now directly owns 2,917,422 shares in the company, valued at approximately $34,367,231.16. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 157,500 shares of company stock valued at $1,967,090 and sold 132,240 shares valued at $1,559,044. 18.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ATNX. Vanguard Group Inc. increased its holdings in Athenex by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,878,063 shares of the company’s stock valued at $29,185,000 after purchasing an additional 144,410 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Athenex by 4.5% in the third quarter. Teachers Advisors LLC now owns 83,771 shares of the company’s stock worth $1,302,000 after acquiring an additional 3,585 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Athenex by 51.8% in the fourth quarter. Rhumbline Advisers now owns 56,505 shares of the company’s stock worth $717,000 after acquiring an additional 19,272 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Athenex in the fourth quarter worth $147,000. Finally, BlackRock Inc. grew its stake in shares of Athenex by 0.9% in the fourth quarter. BlackRock Inc. now owns 3,616,333 shares of the company’s stock worth $45,892,000 after acquiring an additional 33,755 shares in the last quarter. Hedge funds and other institutional investors own 31.85% 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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