Athenex, Inc. (NASDAQ:ATNX) Expected to Post Quarterly Sales of $22.07 Million

Brokerages expect that Athenex, Inc. (NASDAQ:ATNX) will announce sales of $22.07 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Athenex’s earnings. The lowest sales estimate is $17.20 million and the highest is $28.00 million. Athenex posted sales of $40.17 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 45.1%. The company is expected to announce its next quarterly earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Athenex will report full-year sales of $126.40 million for the current financial year, with estimates ranging from $106.30 million to $151.00 million. For the next year, analysts expect that the firm will report sales of $104.50 million, with estimates ranging from $91.00 million to $122.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Athenex.

Athenex (NASDAQ:ATNX) last announced its earnings results on Wednesday, May 5th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.13. Athenex had a negative net margin of 110.02% and a negative return on equity of 89.73%.

A number of research analysts recently weighed in on the stock. SVB Leerink reiterated a “hold” rating on shares of Athenex in a research note on Sunday, May 9th. Laidlaw reduced their target price on Athenex from $38.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price target (down previously from $30.00) on shares of Athenex in a research note on Monday, March 8th. Zacks Investment Research upgraded shares of Athenex from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Friday, May 21st. Finally, Truist Securities reiterated a “hold” rating and issued a $6.00 price target (down previously from $29.00) on shares of Athenex in a research note on Tuesday, March 9th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Athenex has an average rating of “Hold” and a consensus price target of $12.81.

ATNX stock opened at $5.05 on Friday. The business’s 50-day moving average price is $4.46. Athenex has a 1 year low of $3.66 and a 1 year high of $15.24. The company has a market cap of $472.24 million, a PE ratio of -2.90 and a beta of 0.63. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.52 and a current ratio of 5.05.

In other news, Director Kim Campbell acquired 8,250 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was acquired at an average price of $4.42 per share, with a total value of $36,465.00. Following the completion of the transaction, the director now directly owns 8,250 shares of the company’s stock, valued at approximately $36,465. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 15,000 shares of company stock valued at $63,468 over the last ninety days. Insiders own 14.19% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Washington Trust Bank bought a new position in shares of Athenex in the first quarter worth about $48,000. Centiva Capital LP bought a new stake in Athenex during the 1st quarter worth approximately $49,000. Pacer Advisors Inc. raised its stake in shares of Athenex by 229.5% during the first quarter. Pacer Advisors Inc. now owns 14,048 shares of the company’s stock valued at $60,000 after acquiring an additional 9,785 shares during the last quarter. Blueshift Asset Management LLC lifted its holdings in shares of Athenex by 21.0% during the first quarter. Blueshift Asset Management LLC now owns 14,011 shares of the company’s stock worth $60,000 after purchasing an additional 2,427 shares during the period. Finally, Forefront Analytics LLC acquired a new stake in Athenex in the first quarter valued at $65,000. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About Athenex

Athenex, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of drugs for the treatment of cancer. It operates through three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform. The company's Orascovery product candidates include Oral Paclitaxel, an oral dosage form, which is in Phase III trial for metastatic breast cancer, as well as various clinical studies in advanced malignancies and gastric cancer; and Oral Irinotecan and Encequidar, a potent anticancer drug 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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Earnings History and Estimates for Athenex (NASDAQ:ATNX)

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