Royal Bank Of Canada Initiates Coverage on Athenex, Inc. (ATNX)
Stock analysts at Royal Bank Of Canada assumed coverage on shares of Athenex, Inc. (NASDAQ:ATNX) in a research note issued on Thursday. The firm set an “outperform” rating and a $35.00 price target on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 107.84% from the company’s previous close.
Separately, Deutsche Bank AG assumed coverage on shares of Athenex in a research note on Monday, July 10th. They issued a “buy” rating and a $20.00 price target on the stock.
Athenex (NASDAQ:ATNX) traded up 2.81% during mid-day trading on Thursday, reaching $16.84. 1,004,949 shares of the company were exchanged. The firm’s market capitalization is $960.94 million. The stock has a 50-day moving average of $16.17 and a 200 day moving average of $16.49. Athenex has a 1-year low of $11.21 and a 1-year high of $20.79.
Athenex (NASDAQ:ATNX) last announced its quarterly earnings results on Monday, August 14th. The company reported ($0.88) EPS for the quarter. The business had revenue of $4.60 million for the quarter. Equities research analysts forecast that Athenex will post ($2.20) earnings per share for the current year.
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In related news, Director Song-Yi Zhang purchased 328,637 shares of the company’s stock in a transaction on Monday, June 19th. The shares were bought at an average cost of $11.00 per share, for a total transaction of $3,615,007.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $44,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Johnson Yiu Nam Lau purchased 25,200 shares of the company’s stock in a transaction on Monday, June 19th. The stock was bought at an average price of $11.00 per share, for a total transaction of $277,200.00. Following the completion of the purchase, the chief executive officer now directly owns 2,722,722 shares of the company’s stock, valued at $29,949,942. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new position in Athenex in the second quarter valued at approximately $601,000. Tudor Investment Corp ET AL purchased a new position in Athenex in the second quarter valued at approximately $320,000. OxFORD Asset Management LLP purchased a new position in Athenex in the second quarter valued at approximately $956,000. California Public Employees Retirement System purchased a new position in Athenex in the second quarter valued at approximately $800,000. Finally, Vanguard Group Inc. purchased a new position in Athenex in the second quarter valued at approximately $800,000. Institutional investors own 0.88% of the company’s stock.
Athenex Company Profile
Athenex, Inc is an oncology pharmaceutical company focused on the development and commercialization of therapies for cancer diseases and supportive therapies. The Company’s technology platform is organized into three categories, including Oral Absorption Platform, Src Kinase Inhibitors and Symptom Therapeutics.
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