$12.05 Million in Sales Expected for Athenex Inc (NASDAQ:ATNX) This Quarter

Equities analysts predict that Athenex Inc (NASDAQ:ATNX) will report $12.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Athenex’s earnings. The highest sales estimate is $12.10 million and the lowest is $12.00 million. Athenex reported sales of $21.27 million during the same quarter last year, which would suggest a negative year over year growth rate of 43.3%. The business is scheduled to report its next quarterly earnings report on Monday, March 9th.

On average, analysts expect that Athenex will report full year sales of $84.38 million for the current fiscal year, with estimates ranging from $78.00 million to $96.13 million. For the next fiscal year, analysts anticipate that the firm will post sales of $89.89 million, with estimates ranging from $69.50 million to $105.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Athenex.

Athenex (NASDAQ:ATNX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.01. The business had revenue of $19.36 million for the quarter, compared to analyst estimates of $15.90 million. Athenex had a negative net margin of 146.51% and a negative return on equity of 98.13%.

ATNX has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Athenex in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Athenex in a research note on Monday, December 16th. SunTrust Banks initiated coverage on Athenex in a research note on Friday, December 6th. They issued a “buy” rating and a $28.00 price objective for the company. BidaskClub lowered Athenex from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Finally, ValuEngine lowered Athenex from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.33.

In related news, Director Manson Fok acquired 50,000 shares of Athenex stock in a transaction on Thursday, November 7th. The stock was acquired at an average price of $11.67 per share, for a total transaction of $583,500.00. Following the purchase, the director now owns 1,869,609 shares of the company’s stock, valued at approximately $21,818,337.03. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive acquired 606,302 shares of Athenex stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $14.54 per share, with a total value of $8,815,631.08. Insiders have acquired a total of 657,302 shares of company stock worth $9,412,381 over the last 90 days. 18.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC boosted its holdings in Athenex by 92.7% in the 2nd quarter. Perceptive Advisors LLC now owns 9,822,118 shares of the company’s stock valued at $187,636,000 after purchasing an additional 4,726,096 shares during the period. BlackRock Inc. boosted its stake in shares of Athenex by 26.0% in the second quarter. BlackRock Inc. now owns 4,508,787 shares of the company’s stock worth $89,275,000 after acquiring an additional 930,726 shares during the period. Orbimed Advisors LLC lifted its stake in shares of Athenex by 793.1% in the 2nd quarter. Orbimed Advisors LLC now owns 3,840,130 shares of the company’s stock valued at $76,035,000 after purchasing an additional 3,410,130 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Athenex by 33.9% in the second quarter. Vanguard Group Inc. now owns 2,832,668 shares of the company’s stock worth $56,087,000 after buying an additional 717,109 shares during the period. Finally, State Street Corp raised its holdings in shares of Athenex by 73.9% in the third quarter. State Street Corp now owns 2,676,903 shares of the company’s stock worth $32,565,000 after buying an additional 1,137,517 shares during the period. Hedge funds and other institutional investors own 55.83% of the company’s stock.

Shares of NASDAQ ATNX traded down $0.05 during trading hours on Monday, hitting $15.37. 141,952 shares of the stock were exchanged, compared to its average volume of 728,758. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.37 and a quick ratio of 2.06. Athenex has a one year low of $8.82 and a one year high of $21.11. The company’s 50 day moving average is $15.45 and its 200 day moving average is $14.94. The firm has a market capitalization of $1.20 billion, a P/E ratio of -10.67 and a beta of 0.01.

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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