Athenex (ATNX) Stock Rating Upgraded by Zacks Investment Research
Athenex (NASDAQ:ATNX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $19.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 16.00% from the company’s current price.
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. “
Other equities research analysts also recently issued reports about the company. Deutsche Bank set a $20.00 target price on Athenex and gave the company a “buy” rating in a report on Wednesday, January 17th. BidaskClub upgraded Athenex from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Needham & Company LLC assumed coverage on Athenex in a report on Tuesday, March 6th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Athenex from $22.20 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.86.
In other news, CEO Johnson Yiu Nam Lau purchased 20,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $14.40 per share, for a total transaction of $288,000.00. Following the acquisition, the chief executive officer now owns 2,767,922 shares of the company’s stock, valued at $39,858,076.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Manson Fok purchased 30,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average price of $14.31 per share, with a total value of $429,300.00. Following the completion of the acquisition, the director now directly owns 1,799,609 shares in the company, valued at approximately $25,752,404.79. The disclosure for this purchase can be found here. Insiders have acquired a total of 60,000 shares of company stock worth $853,700 over the last 90 days.
Several hedge funds and other institutional investors have recently modified their holdings of ATNX. Vanguard Group Inc. bought a new stake in shares of Athenex in the 2nd quarter valued at approximately $800,000. Bank of New York Mellon Corp increased its holdings in shares of Athenex by 106.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,002 shares of the company’s stock valued at $543,000 after acquiring an additional 16,002 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Athenex in the 3rd quarter valued at approximately $524,000. California State Teachers Retirement System bought a new stake in shares of Athenex in the 3rd quarter valued at approximately $198,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of Athenex in the 4th quarter valued at approximately $1,711,000. Institutional investors and hedge funds own 5.95% of the company’s stock.
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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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