Athenex (ATNX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Athenex (NASDAQ:ATNX) from a buy rating to a hold rating in a research report report published on Thursday.

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. “

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ATNX has been the subject of a number of other research reports. BidaskClub cut shares of Athenex from a hold rating to a sell rating in a research note on Thursday, January 4th. Deutsche Bank set a $20.00 price target on shares of Athenex and gave the stock a buy rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price target on shares of Athenex from $22.20 to $23.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Finally, Needham & Company LLC initiated coverage on shares of Athenex in a research note on Tuesday, March 6th. They issued a buy rating and a $30.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $26.86.

Shares of Athenex stock opened at $16.19 on Thursday. Athenex has a twelve month low of $11.21 and a twelve month high of $20.79.

In other Athenex news, CEO Johnson Yiu Nam Lau acquired 20,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $14.40 per share, with a total value of $288,000.00. Following the purchase, the chief executive officer now owns 2,767,922 shares of the company’s stock, valued at $39,858,076.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jinn Wu acquired 10,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average cost of $13.64 per share, with a total value of $136,400.00. Following the purchase, the director now directly owns 249,208 shares in the company, valued at approximately $3,399,197.12. The disclosure for this purchase can be found here. In the last three months, insiders acquired 60,000 shares of company stock valued at $853,700.

Several institutional investors have recently made changes to their positions in ATNX. Private Advisor Group LLC purchased a new stake in shares of Athenex in the 4th quarter valued at $161,000. California State Teachers Retirement System purchased a new stake in shares of Athenex in the 3rd quarter valued at $198,000. Deutsche Bank AG boosted its stake in shares of Athenex by 190.8% in the 4th quarter. Deutsche Bank AG now owns 18,511 shares of the company’s stock valued at $293,000 after purchasing an additional 12,146 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of Athenex in the 4th quarter valued at $333,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Athenex in the 3rd quarter valued at $524,000. 5.95% of the stock is owned by institutional investors.

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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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