Q3 2019 EPS Estimates for Avenue Therapeutics Inc Reduced by Analyst (NASDAQ:ATXI)

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Avenue Therapeutics Inc (NASDAQ:ATXI) – Research analysts at Oppenheimer cut their Q3 2019 EPS estimates for shares of Avenue Therapeutics in a research report issued to clients and investors on Thursday, August 15th. Oppenheimer analyst L. Gershell now forecasts that the company will post earnings per share of ($0.30) for the quarter, down from their prior forecast of ($0.22). Oppenheimer also issued estimates for Avenue Therapeutics’ Q4 2019 earnings at ($0.27) EPS, FY2019 earnings at ($1.75) EPS, FY2020 earnings at ($0.95) EPS, FY2021 earnings at ($2.04) EPS, FY2022 earnings at ($0.44) EPS and FY2023 earnings at $1.42 EPS.

ATXI has been the subject of several other reports. ValuEngine raised shares of Avenue Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price objective on shares of Avenue Therapeutics in a report on Tuesday, May 14th.

Shares of NASDAQ:ATXI opened at $6.06 on Monday. The firm has a fifty day moving average price of $6.02 and a two-hundred day moving average price of $5.49. Avenue Therapeutics has a one year low of $2.08 and a one year high of $7.98. The company has a market cap of $96.05 million, a price-to-earnings ratio of -2.89 and a beta of -0.41.

Avenue Therapeutics (NASDAQ:ATXI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.05.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Asset Management Inc. lifted its holdings in shares of Avenue Therapeutics by 9.3% during the 2nd quarter. National Asset Management Inc. now owns 64,750 shares of the company’s stock worth $408,000 after acquiring an additional 5,500 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Avenue Therapeutics by 135.7% during the 2nd quarter. BlackRock Inc. now owns 39,933 shares of the company’s stock worth $251,000 after acquiring an additional 22,994 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Avenue Therapeutics during the 1st quarter worth $144,000. Finally, Northern Trust Corp bought a new stake in shares of Avenue Therapeutics during the 4th quarter worth $79,000. 7.17% of the stock is owned by institutional investors.

In related news, Director Neil Herskowitz acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was bought at an average cost of $5.86 per share, with a total value of $29,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Walter Vazzano sold 4,688 shares of Avenue Therapeutics stock in a transaction on Friday, August 9th. The stock was sold at an average price of $5.59, for a total transaction of $26,205.92. Following the sale, the chief financial officer now directly owns 59,038 shares of the company’s stock, valued at $330,022.42. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

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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