JPMorgan Chase & Co. Upgrades Athenex (ATNX) to “Overweight”
JPMorgan Chase & Co. upgraded shares of Athenex (NASDAQ:ATNX) from a neutral rating to an overweight rating in a research note published on Thursday, MarketBeat reports. The brokerage currently has $15.00 price objective on the stock, down from their prior price objective of $24.00.
Several other equities analysts have also weighed in on ATNX. ValuEngine lowered Athenex from a buy rating to a hold rating in a report on Tuesday, August 14th. BidaskClub lowered Athenex from a hold rating to a sell rating in a report on Friday, August 17th. Zacks Investment Research raised Athenex from a sell rating to a hold rating in a report on Tuesday, October 16th. Finally, LADENBURG THALM/SH SH assumed coverage on Athenex in a report on Thursday, October 25th. They issued a buy rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $22.00.
Shares of NASDAQ ATNX opened at $11.98 on Thursday. Athenex has a 1-year low of $9.83 and a 1-year high of $20.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.86 and a current ratio of 4.46.
In related news, insider Jeffrey Yordon purchased 9,500 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was purchased at an average cost of $10.49 per share, with a total value of $99,655.00. Following the completion of the acquisition, the insider now directly owns 198,209 shares of the company’s stock, valued at $2,079,212.41. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rudolf Kwan purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The stock was bought at an average cost of $10.49 per share, with a total value of $104,900.00. Following the completion of the acquisition, the executive vice president now directly owns 92,224 shares of the company’s stock, valued at $967,429.76. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 82,500 shares of company stock valued at $952,735 and sold 230,339 shares valued at $3,930,329. 29.50% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Athenex by 106.3% in the second quarter. BlackRock Inc. now owns 3,472,246 shares of the company’s stock worth $64,793,000 after buying an additional 1,789,061 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its position in shares of Athenex by 78.3% in the third quarter. Jaffetilchin Investment Partners LLC now owns 163,824 shares of the company’s stock worth $2,546,000 after buying an additional 71,922 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Athenex in the second quarter worth $376,000. Legal & General Group Plc raised its position in shares of Athenex by 363.2% in the second quarter. Legal & General Group Plc now owns 6,930 shares of the company’s stock worth $129,000 after buying an additional 5,434 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Athenex by 177.9% in the second quarter. Bank of New York Mellon Corp now owns 163,893 shares of the company’s stock worth $3,058,000 after buying an additional 104,918 shares in the last quarter. Institutional investors own 20.93% of the company’s stock.
Athenex, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of various therapies for the treatment of cancer and related conditions. The company's Orascovery product candidates include Oraxol, an oral dosage form, which is in Phase III trial for metastatic breast cancer, as well as various clinical studies in advanced malignances and gastric cancer; and Oratecan, an oral dosage form of irinotecan that is in a Phase I study for the treatment of metastatic colorectal cancer, glioblastoma, lung, ovarian, cervical, upper gastrointestinal, and pancreatic cancer.
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