Analysts Anticipate Avenue Therapeutics Inc (NASDAQ:ATXI) to Announce ($0.32) EPS

Shares of Avenue Therapeutics Inc (NASDAQ:ATXI) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price target of $13.67 for the company and are forecasting that the company will post ($0.32) EPS for the current quarter, according to Zacks. Zacks has also given Avenue Therapeutics an industry rank of 77 out of 256 based on the ratings given to its competitors.

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Avenue Therapeutics in a research report on Tuesday, May 14th. ValuEngine upgraded Avenue Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th.

In other news, Director Neil Herskowitz bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average price of $5.86 per share, for a total transaction of $29,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph Walter Vazzano sold 4,688 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $5.59, for a total value of $26,205.92. Following the completion of the sale, the chief financial officer now owns 59,038 shares in the company, valued at approximately $330,022.42. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. National Asset Management Inc. lifted its holdings in Avenue Therapeutics by 9.3% in the second quarter. National Asset Management Inc. now owns 64,750 shares of the company’s stock valued at $408,000 after acquiring an additional 5,500 shares during the period. BlackRock Inc. lifted its holdings in Avenue Therapeutics by 135.7% in the second quarter. BlackRock Inc. now owns 39,933 shares of the company’s stock valued at $251,000 after acquiring an additional 22,994 shares during the period. Spark Investment Management LLC acquired a new position in Avenue Therapeutics in the first quarter valued at approximately $144,000. Finally, Northern Trust Corp acquired a new position in Avenue Therapeutics in the fourth quarter valued at approximately $79,000. 7.17% of the stock is owned by institutional investors.

Shares of ATXI stock traded down $0.08 during trading hours on Friday, reaching $6.20. 28,560 shares of the company’s stock were exchanged, compared to its average volume of 44,915. Avenue Therapeutics has a 1 year low of $2.08 and a 1 year high of $7.98. The stock has a market cap of $100.35 million, a PE ratio of -2.95 and a beta of -0.41. The stock’s fifty day moving average price is $6.02 and its two-hundred day moving average price is $5.49.

Avenue Therapeutics (NASDAQ:ATXI) last issued its earnings results on Wednesday, August 14th. The company reported ($0.43) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.05. On average, equities analysts expect that Avenue Therapeutics will post -1.79 earnings per share for the current fiscal year.

About Avenue Therapeutics

Avenue Therapeutics, Inc, a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain.

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