Athenex Inc. (NASDAQ: ATNX) stock jumped 51.61% on Friday to $0.95 against a previous-day closing price of $0.63. With 13.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.12 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.9948 whereas the lowest price it dropped to was $0.8404. The 52-week range on ATNX shows that it touched its highest point at $3.91 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $2.33. Beta for the stock currently stands at 1.07.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATNX was up-trending over the past week, with a rise of 88.36%, but this was up by 79.17% over a month. Three-month performance surged to 83.37% while six-month performance fell -0.01%. The stock lost -75.13% in the past year, while it has lost -29.78% so far this year. A look at the trailing 12-month EPS for ATNX yields -1.68 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.15. This implies an EPS growth rate of -10.60% for this year and 50.80% for next year.
Float and Shares Shorts:
At present, 113.01 million ATNX shares are outstanding with a float of 93.20 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.56 million, which was 2.17% higher than short shares on Jun 14, 2022. In addition to Dr. Yiu-Nam Lau F.R.C.P., M.B.B.S., M.D., Ph.D. as the firm’s Chairman & CEO, Mr. Jeffrey M. Yordon serves as its COO & Pres of Athenex Pharmaceutical Division.
Through their ownership of 41.58% of ATNX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.35% of ATNX, in contrast to 27.96% held by mutual funds. Shares owned by individuals account for 27.01%. As the largest shareholder in ATNX with 12.10% of the stake, Perceptive Advisors LLC holds 13,532,467 shares worth 13,532,467. A second-largest stockholder of ATNX, BlackRock Fund Advisors, holds 5,788,312 shares, controlling over 5.18% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ATNX, holding 3,775,905 shares or 3.38% stake. With a 2.32% stake in ATNX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,588,657 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.95% of ATNX stock, is the second-largest Mutual Fund holder. It holds 1,063,900 shares valued at 0.44 million. DWS Variable II – Small Mid Cap V holds 0.75% of the stake in ATNX, owning 837,899 shares worth 0.34 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATNX since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATNX analysts setting a high price target of $4.00 and a low target of $1.00, the average target price over the next 12 months is $2.33. Based on these targets, ATNX could surge 321.05% to reach the target high and rise by 5.26% to reach the target low. Reaching the average price target will result in a growth of 145.26% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ATNX will report FY 2022 earnings on 03/14/2023. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.87 being low. For ATNX, this leads to a yearly average estimate of -$0.72. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Athenex Inc. surprised analysts by -$0.13 when it reported -$0.28 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.20. The average estimate for the next quarter is thus -$0.15.
Summary of Insider Activity:
Insiders traded ATNX stock several times over the past three months with 16 Buys and 0 Sells. In these transactions, 135,277 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 315,527 while 0 shares were sold.