Athenex (ATNX) Receives a Buy from Oppenheimer

By Carrie Williams

In a report released today, Kevin DeGeeter from Oppenheimer maintained a Buy rating on Athenex (ATNXResearch Report), with a price target of $23.00. The company’s shares closed last Thursday at $9.24.

According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 10.4% and a 45.1% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Molecular Templates, and Cidara Therapeutics.

Currently, the analyst consensus on Athenex is a Moderate Buy with an average price target of $26.50.

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Based on Athenex’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $34.36 million and GAAP net loss of $21.73 million. In comparison, last year the company earned revenue of $21.27 million and had a GAAP net loss of $27.11 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ATNX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Athenex, Inc. is a biopharmaceutical company, which engages in the discovery, development and commercialization of novel therapies for the treatment of cancer.It operates through the following segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform. The Oncology Innovation Platform segment involves in discovery and development of cancer supportive therapies. The Global Supply Chain Platform segment consists of manufacturing and marketing of API, medical devices, and clinical products. The Commercial Platform segment engages in manufacturing and selling of commercial pharmaceutical products. The company was founded by Lyn M. Dyster and David G. Hangauer in November 2003 and is headquartered in Buffalo, NY.