BlackRock Fund Advisors recently announced the acquisition of new stake in Athenex Inc. (NASDAQ:ATNX). The institutional investor has increased its shareholding in the Healthcare company by 9.89% to 4.93 million shares with purchase of 0.44 million shares. This fresh investment now brings its stake to 6.04% valued currently at $52.3 million. In addition, The Vanguard Group, Inc. raised its holdings by 6940.0 to 2.85 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.09% or 51558.0 shares – to 2.52 million shares.
With over 2.56 million Athenex Inc. (ATNX) shares trading Tuesday and a closing price of $12.53 on the day, the dollar volume was approximately $32.12 million. The shares have shown a positive weekly performance of 16.23% and its price on 09/01/20 gained nearly 9.05%. Currently, there are 81.56M common shares owned by the public and among those 52.72M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for ATNX have a consensus price objective of $28.09. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $13.69 should the stock experience a downside. Incidentally, analysts’ outlook for the Athenex Inc. stock is 1.70 for the next 12 months. But an upside of 67.03% will see the stock hit the forecast high price target while mean target price for the stock is $29.50.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 1,004,222 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 559,389 shares.
The top 3 mutual fund holders in Athenex Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and SPDR S&P Biotech ETF. Vanguard Total Stock Market Index owns 1.68 million shares of the company’s stock, all valued at over $17.83 million. The company sold 2034.0 shares recently to bring their total holdings to about 2.06% of the shares outstanding. iShares Russell 2000 ETF sold 70686.0 shares to see its total holdings shrink to 1.51 million shares valued at over $16.05 million and representing 1.85% of the shares outstanding. SPDR S&P Biotech ETF sold 12243.0 shares to bring its total holdings to over 1.22 million shares at a value of $12.97 million. SPDR S&P Biotech ETF now owns shares totaling to 1.50% of the shares outstanding.
Shares of Athenex Inc. (NASDAQ: ATNX) opened at $13.53, up $2.04 from a prior closing price of $11.49. However, the script later closed the day at $12.53, up 9.05%. The company’s stock has a 5-day price change of 16.23% and 10.11% over the past three months. ATNX shares are trading -17.94% year to date (YTD), with the 12-month market performance down to -12.50% lower. It has a 12-month low price of $5.63 and touched a high of $18.35 over the same period. Currently, 2.56 million shares have been traded, compared to an average intraday trading volume of 518.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.59%, 5.74%, and 3.09% respectively.
Institutional ownership of Athenex Inc. (NASDAQ: ATNX) shares accounts for 57.60% of the company’s 81.56M shares outstanding. Mutual fund holders own 33.98%, while other institutional holders and individual stakeholders account for 38.90% and 18.37% respectively.
It has a market capitalization of $980.97M. The earnings-per-share (ttm) stands at -$1.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.93% over the week and 5.82% over the month.
Analysts forecast that Athenex Inc. (ATNX) will achieve an EPS of -$0.43 for the current quarter, -$0.49 for the next quarter and -$1.29 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.52 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.45 a year ago. Earnings per share for the fiscal year are expected to increase by 8.10%, and 23.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Athenex Inc. (ATNX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ATNX, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on June 25, 2019, with the firm’s price target at $29-$31. Oppenheimer coverage for the Athenex Inc. (ATNX) stock in a research note released on May 02, 2019 offered a Outperform rating with a price target of $20. SunTrust was of a view on March 29, 2019 that the stock is Buy, while JP Morgan gave the stock Overweight rating on November 15, 2018, issuing a price target of. Ladenburg Thalmann on their part issued Buy rating on October 25, 2018.