Athenex Inc (ATNX) Gets a Buy Rating from Oppenheimer


In a report released today, Kevin DeGeeter from Oppenheimer maintained a Buy rating on Athenex Inc (ATNX), with a price target of $17. The company’s shares opened today at $13.

DeGeeter observed:

“On 5/9, ATNX disclosed 1Q19 financial results above our outlook. It also announced: 1) plans to present Oraxol oral taxane Phase III metastatic breast cancer data in August, 2) completion of dose escalation for the Oraxol combo study with ramucirumab for gastric cancer, and 3) plans to boost its commercial presence in the US in anticipation of potential 2021 Oraxol approval, including a booth at ASCO. We continue to believe Oraxol can meet our $900M peak sales outlook based on improved neuropathy profile and numerical improvement in RECIST response vs. IV paclitaxel. We believe investors underestimate the strategic value of ATNX’s investment in the commercial channel and manufacturing to drive rapid uptake of Oraxol and other proprietary oncology products to be launched in 2021+. Adjusting PT from $20 to $17.”

According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 10.4% and a 49.0% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences Inc, Molecular Templates Inc, and Neon Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Athenex Inc with a $23 average price target.

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Based on Athenex Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $27.11 million. In comparison, last year the company had a GAAP net loss of $7.3 million.

Based on the recent corporate insider activity of 60 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.

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